Does Dogecoin update the uptrend to continue? Bullish cross appears on the Governor chart
Popular digital assets and the largest dog-themed meme coins, DogIn the past few days, after the revival of the general crypto market, people have significantly turned to positive territory. With current bullish price action, Doge continues to take key moves, suggesting a possible extension of the ongoing uptrend.
Bullish dogs’ continuous gathering signals
Dogecoin’s recent price action shows signs of life as meme coins continue to push higher towards key resistance levels. Additionally, Doge flashed a bullish crossover, which is likely to strengthen its update momentum in the days to come.
In X (formerly Twitter) postalMarket experts and investor Tardigrade outlines the key moves of Doge’s 2-week time range chart. After conducting the current price performance, Trader Tardigrade stressed that the meme coins have won a bullish cross on the Random Relative Strength Index (RSI).
Usually, this bullish cross is considered early Signs of rising intensity In a positive market situation. Given the market’s revival, this major move suggests that Doge’s price may be preparing for a stronger rise.
After a long period of merger, the latest signal of meme coins may herald the beginning of a new leg ongoing Recovery phase As emotions continue to become more optimistic.
Although Doge scored a bullish cross on random RSI, Tardigrade highlighted another key development on the 2-week chart. Check out the charts, the assets witnessed breakthrough From the fallen wedge construction.
Dropped wedge formation is a technical pattern characterized by two fusion trend lines slanting downwards. Interestingly, this pattern often implies that a potential trend reversal after an extension of the downward trend inside the wedge.
Since this development aspect is an upward trend, it will further drive new momentum, allowing it to revisit higher price levels. After the breakthrough, as Dogecoin hovers in the key resistance area, Meme Coin It may be studying its next major rally, reigniting the stage of the bull market.
Doge’s priced large pump
Technologist and trader Kenobi also delved into Doge’s performance, predicting a huge surge is coming. his prophecy It is based on Dogecoin’s price action, which is consistent with past trends observed in 2017. According to experts, the current configuration is compared with the situation in 2017, and the macro chart shows Doge has all the components needed for a large pump.
While investors are expecting the next trajectory of the meme coins, the 21-day exponential moving average (EMA) of the 3-day chart clearly shows the market conditions. Meanwhile, other factors such as bullish divergence and RSI trendline violations support this prospect.
Featured Images from Getty Images, TradingView.com Charts
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