- Dogecoin aims for $0.15 after a 24% weekly gain, breaking key resistance.
- Positive crypto market sentiment persists despite Bitcoin’s 75% Fear and Greed Index.
- DOGE’s bullish shift is marked by a 50-day EMA breakthrough.
Dogecoin (DOGE) stands out, surging by an impressive 24% over the past week. This bullish momentum has catapulted DOGE beyond critical resistance levels, positioning it to target the significant milestone of $0.15.
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Despite Bitcoin’s Fear and Greed Index hitting 75% in recent days, indicating a mixed sentiment, the overall outlook within the crypto sphere remains notably upbeat. The current market environment anticipates a potential retracement to crucial support levels.
Amid this broader bullish wave, Dogecoin has displayed notable strength and resilience. Having faced a challenging period during the bear market, with a drastic price drop of over 90%, DOGE struggled to regain bullish traction. However, recent developments have marked a significant shift in its trajectory.
Breaking free from its previous downtrend channel, Dogecoin surged past the pivotal 50-day Exponential Moving Average (EMA). This breakthrough serves as a clear signal of a transition from a bearish to a bullish trend, further solidified by a substantial rise above the key resistance level of $0.095.
The current market analysis suggests a robust posture for DOGE, holding firm above the crucial $0.095 mark. Analysts are eyeing a potential surge that could drive Dogecoin’s price toward the targeted zone of $0.15. This positive outlook is supported by its sustained position above the daily 50% Fibonacci retracement and reinforced by the strong buy volume highlighted by the Moving Average Convergence Divergence (MACD) indicator.
Presently exchanging hands at $0.1019, Dogecoin has recently crossed the psychological threshold of $0.10, showcasing a 15% surge in the last 24 hours.
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