Dogecoin Price Retests $0.27, Bullish Momentum Builds for Rally
Dogecoin is showing bullish momentum, with a current price targeting a retest of $0.27. A successful breakout above this level could trigger a multi-stage rally.
DOGE/USDT Breaks Resistance at $0.2533
- GemXBT reports DOGE/USDT has broken the key resistance at $0.2533 with strong upward momentum.
- The 5-day moving average has crossed above the 10-day and 20-day averages, indicating an uptrend.
- Increasing trading volume supports the bullish move, suggesting heightened demand.
- Relative Strength Index (RSI) approaches overbought levels; caution advised for potential pullbacks.
Cup & Handle Pattern Indicates Bullish Potential
- A cup-and-handle pattern is emerging on the daily chart, signaling a potential bullish trend.
- The handle is forming with controlled pullbacks, indicating that sellers are losing strength.
- Breaking above the $0.27 resistance could lead to targets of $0.31, $0.39, and possibly $0.50.
- The outlook remains bullish as long as higher lows continue on the chart.
