Dogecoin Surges Over 33% Amid Bullish MACD Crossover Signal

Dogecoin has surged over 33% this week, trading above $0.22 due to bullish momentum from retail and institutional traders. Key technical indicators, particularly the MACD (Moving Average Convergence Divergence), signal a potential upside following a similar pattern observed since October 2023.

MACD Signal Indicates Possible Rally

The MACD crossover on the weekly timeframe suggests a shift in momentum.
Previous crossovers led to significant price rallies: from $0.06 to $0.23 and from $0.086 to $0.48.
The first crossover in October 2023 resulted in a 285% rally; the second in September 2024 saw a 460% increase, reaching $0.48.
The current setup resembles previous patterns with higher lows and an imminent crossover.

Potential Target of $1

The MACD crossover may help Dogecoin approach the long-term target of $1.
This target aligns with previous resistance levels of $0.23 and $0.48.
A price surge of approximately 335% from current levels around $0.23 is needed to reach $1.
Currently, Dogecoin trades at $0.2335, up 3.4% in the last 24 hours, with an intraday high of $0.2569.