Dogecoin (DOGE) is showing signs of renewed bullish momentum, with a 2.1% increase in the last 24 hours and a 17% gain over the past week. Despite trading below $0.20, technical indicators suggest a potential rally.
Crypto analyst Kamran Asghar has identified a bull flag pattern on Dogecoin's weekly chart. This pattern typically signals a continuation of the upward trend, with a potential breakout to $0.22 in the short term. Longer-term projections, based on Fibonacci extensions, suggest a possible move towards $1.09 if the bullish momentum holds.
Trader Tardigrade has also highlighted a MACD bullish crossover on Dogecoin's 3-day chart, which often indicates a bullish reversal. Historical patterns suggest that similar crossovers have led to significant rallies, potentially pushing DOGE beyond $1.30 if the current momentum continues. Dogecoin is currently trading around $0.18.