Dogecoin May Be Ready to Surpass These Levels with an Explosive 26% Rise This Week: Here are the Details!

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While the overall market trend is slow today, the fluctuations seen in major altcoins have shown less volatility compared to the major coins that generally dominate the crypto market. This may indicate that investors and traders tend to move towards major altcoins and are looking for a safer haven. on the other hand dogecoin The increased network activity on has attracted the attention of the crypto industry. This has increased the potential to trigger a bull run in Dogecoin. Could this recovery push the price of DOGE beyond the current $0.10 level?

Dogecoin Under Pressure, All Eyes on the Rise Again

DOGE price action is forming a descending triangle, indicating a continuation of a lower high trend. The base line of the B triangle is determined as the 200-day exponential moving average (200D EMA). Additionally, the downward trend in transaction volume indicates a horizontal continuation.

On the other hand, increasing RSI divergence on the daily chart meme coin This ensures that an upward fluctuation is expected within the week. As of now, Dogecoin is trading at $0.0776, slightly above the 200D EMA.

Growth on the DOGE network throughout the week is notable, with 890,000 new Dogecoin addresses. However, the lack of reflection in DOGE price seems to tease a quick move should the overall market recover. Therefore, the future course of DOGE price remains uncertain depending on the performance of technical indicators and the overall crypto market.

Also, to crypto analyst @ali_charts according to, Bollinger bands on Dogecoin are showing the tightest squeeze since October 2023. This increases the possibility of starting a strong price movement on the meme coin. In particular, a break of both bands can provide a better entry signal for traders.

Bollinger bands are a technical analysis indicator that measures the overall volatility of the price. Tightening bands are often considered a harbinger of an upcoming price movement in an asset. This points to a tight price range that has persisted for Dogecoin since October 2023, and a breakout from this range could potentially trigger a strong price movement.

Will DOGE Price Reach $0.10?

Koinfinans.com As we reported, the squeezed DOGE price carries a high potential for a breakout as RSI divergence increases and improvement in network health strengthens bull run expectations. This points to a chance for Dogecoin to surpass the resistance point at $0.10 with its breakout momentum.

However, conversely, if the consolidation process breaks below the 200-day exponential moving average (200D EMA), altcoin It may decline to lower levels such as $0.075. In this case, the possibility of the altcoin entering a downward trend may become stronger.

Investors and traders should carefully monitor these signs and adjust their strategies depending on market conditions. It is always important to follow market developments and evaluate risks.


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