#DOGE

Dogecoin Breaks Resistance, Bull Market Signals Emerging?

Dogecoin (DOGE) is currently gaining momentum, having broken through an important resistance level! With the surge of Bitcoin, the meme coin market is also benefiting, and Dogecoin rose by 4.22% within 24 hours, with its market cap regaining the trillion yuan mark!

From a technical perspective, Dogecoin's recovery momentum is strong, starting from the demand zone of $0.3, breaking through local resistance trend lines, and now challenging the Fibonacci level of $0.3303. Moreover, the 20 EMA line is also preparing for a bullish crossover with the 50 moving average, this momentum is incredible!

Even more astonishing, the RSI indicator shows that Dogecoin is being heavily bought, with the 4-hour RSI already reaching 60.15, not far from the overbought zone. It seems that Dogecoin is set to soar!

So, what is Dogecoin's next target? According to the Fibonacci level, the short-term rebound may exceed $0.3551, but be cautious of resistance levels at $0.3357 and $0.34719. If it breaks through the 50% Fibonacci level, the previous resistance zone of $0.37772 to $0.41557 may be challenged!

However, investing carries risks, and one must proceed with caution. If it does not exceed the 38.20% Fibonacci level, it may need to return to the $0.3 demand zone for more practice.

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