Dogecoin

bullish

when

Resistance

<ul class="wp-block-list">
 <li>Dogecoin's price is testing key resistance levels, with analysts projecting potential gains to $2.40 or even $18 if trends hold.</li>  
 <li>The golden cross indicator suggests a possible rally for Dogecoin, with some analysts projecting up to a 7,000% gain.</li>  
 <li>Dogecoin's upward momentum continues within a long-term channel, with critical resistance levels at $2.40 and $11.</li> 
</ul>  
<p>Analysts are currently keeping a careful eye on Dogecoin's ($DOGE) potential for future growth due to its impressive price swings in the past. The cryptocurrency has been testing important price levels recently, which may indicate a significant rally.&nbsp;</p>  
<p>According to market experts, Dogecoin may continue to enjoy higher momentum based on both technical indications and historical patterns. Some forecasts indicate objectives as high as $2.40 or even $18.</p>  
<h2 class="wp-block-heading" id="h-technical-analysis-testing-key-resistance-levels">Technical Analysis: Testing Key Resistance Levels</h2>  
<p>Ali, a prominent market analyst, points to Dogecoin's movement within a long-term parallel channel since 2014. This channel has been crucial in guiding the coin’s volatility, with price rallies and retracements often occurring within the trend lines.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/ali_charts/status/1856138843272994883
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<p>In early 2021, Dogecoin experienced a surge, hitting $0.70 before retracing and stabilizing between the middle and lower bounds. Currently, Dogecoin is trading around $0.28809, testing the middle boundary of the channel.</p>  
<p>Ali suggests that if Dogecoin continues along its current path, <a href="https://cryptonewsland.com/ethereum-struggles-to-break-2660-resistance-as-traders-watch-main-levels/" target="_blank" rel="noopener noreferrer nofollow">it may face resistance</a> around the $2.40 and $11 levels, aligning with the upper boundaries of the channel. These levels have proven significant in past cycles. Therefore, if Dogecoin can break through these points, a stronger bullish trend may follow. The continued upward trend within this well-established channel remains an encouraging sign for investors.</p>  
<h2 class="wp-block-heading" id="h-the-golden-cross-a-bullish-indicator">The Golden Cross: A Bullish Indicator</h2>  
<p>In addition to the channel analysis, Mikybull Crypto highlights a key bullish indicator for Dogecoin: the golden cross. This technical pattern occurs when the short-term moving average crosses above the long-term moving average, signaling <a href="https://cryptonewsland.com/algo-downtrend-pattern-weakens-chart-indicates-massive-surge-ahead-can-algo-price-hit-7-this-cycle/" target="_blank" rel="noopener noreferrer nofollow">potential upward price movement</a>. Mikybull notes that in the last cycle, Dogecoin saw an extraordinary rally of nearly 7,000% after the Golden Cross event.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcHq6rpRiGrDRNdJjE4NK7B72K95hCjIR6PlbYTkXGfvUK3xvIFN4a_9yUBlaR3zmDUNxFGWdvwomeZfosPKqIrTvcCniInkPJcR8Hq8gDhO2abAez443MlhtEZ5BF833ZYx7W5tg?key=nwHGkjoQ2M83e0hNPRoK-9HL" alt="">
</figure>  
<p><em>Source: </em><a href="https://x.com/MikybullCrypto/status/1856197020995748347" target="_blank" rel="noopener noreferrer nofollow"><em>Mikybull Crypto</em></a></p>  
<p>Currently, <a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin's price</a> has risen above $0.39, and the moving averages show a bullish crossover. Mikybull projects that if the trend continues, Dogecoin could reach up to $3.16, representing an impressive gain from its current levels. This movement mirrors previous growth phases, making the golden cross a highly anticipated signal for Dogecoin’s potential rise.</p> 
<p>The post <a href="https://cryptonewsland.com/dogecoins-golden-cross-signals-big-gains-could-doge-surge-to-3-16/" rel="noopener noreferrer nofollow">Dogecoin’s Golden Cross Signals Big Gains, Could $DOGE Surge to $3.16?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Dogecoin’s Golden Cross Signals Big Gains, Could $DOGE Surge to $3.16?

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