Dogecoin is gaining attention again after the Relative Strength Index (RSI) turned bullish. Dogecoin could surge to $0.1293 as the RSI reverses, indicating a positive change. As the market sentiment turns bullish, can DOGE break out to new heights?
This article will examine Dogecoinâs recent RSI performance and its bullish outlook. The article will assess DOGEâs chances of reaching $0.1293 using technical indicators and market sentiment.
DOGE is down 0.86% in 24 hours to $0.1055. The cryptocurrency has a market cap of $15.4 billion and a trading volume of $503 million, down 0.08% and 23.74%.
Technical Analysis: Uptrend Indicators
After the decline, DOGEâs 4-hour chart price is rising to $0.1293. DOGE is above the 100-day SMA, indicating an uptrend.
This resilience shows that buyers are supporting the price, fueling further gains. The uptrend is likely to continue as long as the RSI remains above this important level.
DOGE has multiple bullish candles on the daily chart. The cryptocurrency is currently trading below the 100-day SMA, but this rally shows that buyers are in control and could push the price further up to $0.1293.
In conclusion, DOGE could continue its bullish momentum on the 1-day chart as the RSI signal line has crossed above the 50% level and is currently at 54%, indicating a positive outlook.
Target is $0.1293 and above
Next, keep an eye on $0.1293 as Dogecoin continues its strong rally. If the meme coin breaks above this level, the next resistance target is $0.1491, which could increase bullish sentiment and push the price higher.
If Dogecoin hits the strong resistance at $0.1293, it could drop to $0.09149. If this level is broken, the downtrend could continue to $0.07456 and beyond.
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