Dogecoin MACD bullish crossover reappears, can the historical gains be repeated?
As of the time of writing, DOGE's weekly chart is quietly approaching the key node of MACD crossover, indicating that its price trend may usher in a major turning point
Despite the recent geopolitical tensions in the Middle East, which have led to overall market volatility, DOGE still shows tenacious recovery potential. Looking back at history, whenever Dogecoin forms a MACD bullish cross on the weekly chart, its price often ushered in an astonishing 90% or even 180% increase.
At the same time, Dogecoin also showed positive signals on the daily chart, and its retest after the macro falling wedge pattern added a bit of bullish color. If DOGE can continue this upward trend and rebound strongly from the current support level, its price may usher in a further surge.
However, the market is always full of variables. If this rebound fails to achieve its goal, DOGE may face the risk of a reshuffle, which may not only further suppress its own price, but also affect the entire altcoin market.
From a monthly perspective, DOGE's historical performance is also impressive. In the past monthly cycles, Dogecoin has successfully flipped key levels many times, thus opening rounds of bull markets. Whether it is the 90% rebound in 2017 or the 180% surge in 2021, DOGE's strong momentum is fully demonstrated. At present, despite the extended consolidation phase and the constant adjustment of market dynamics, there are signs that DOGE may once again usher in an astonishing 180% increase, bringing a new bull market dawn to the market.
In addition, Dogecoin's network growth cannot be ignored. In the past week, the number of new DOGE addresses has surged by 72%, and more than 19,600 addresses were added yesterday.
Of course, the market does not exist in isolation, and external factors such as geopolitical tensions in the Middle East may still have an impact on DOGE's price trend. But in any case, with the support of strong technical indicators, a booming network ecology, and historical patterns, Dogecoin is fully capable of standing out in the future market and achieving significant gains.
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