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Dogecoin (DOGE) Momentum Builds as Bulls Target $0.21 Zone

Dogecoin (DOGE) price chart

Dogecoin is buying and selling close to $0.182 after gaining near 10% over the previous week. Price motion and momentum indicators throughout a number of timeframes are exhibiting indicators of energy.

Consequently, merchants are looking forward to affirmation of a pattern shift as DOGE holds above key help ranges.

Momentum Builds on Daily Chart

On the day by day chart, the OG meme coin broke above a descending trendline after a stretch of decrease highs and lows. The MACD indicator has flipped bullish with the MACD line crossing above the sign line. This was adopted by rising histogram bars, pointing to growing momentum.

Trader Tardigrade shared the chart and noted,

“MACD histogram reveals steady improve in energy.”

Dogecoin (DOGE) price chart
Source: Trader Tardigrade/X

Bullish Patterns Emerging on DOGE Charts

An inverse Head and Shoulders sample has fashioned on the 4-hour chart. The breakout above the neckline occurred on November 10, adopted by a retest that held above $0.18. The asset has since remained above that stage.

This setup features a left shoulder, head, and proper shoulder, adopted by a breakout. Trader Tardigrade confirmed the construction and said DOGE had “efficiently accomplished a retest” after the breakout.

Moreover, the 12-hour chart reveals a Cup and Handle formation. The cup fashioned throughout a rounded backside, adopted by a brief pullback creating the deal with. DOGE broke by the horizontal resistance line and is now buying and selling close to $0.184.

The estimated transfer from the sample factors towards a goal close to $0.211. Tardigrade known as consideration to this stage after the breakout was confirmed.

Traders Watch Key Levels

BitGuru said DOGE shifted out of a downtrend and is testing a resistance zone.

“If it breaks above this zone, continuation upward is probably going,” the put up stated.

Binance information from CW shows high merchants stay lengthy, with DOGE positions holding at 77.82%.

Market Prophit posted that crowd sentiment and mannequin sentiment stay “Bullish.” DOGE traded between $0.177 and $0.184 throughout Tuesday’s session, with consumers defending the $0.1800 stage. Price examined the higher finish of the vary earlier than pulling again barely.

As CryptoPotato reported, the Bitwise spot DOGE ETF is at present beneath a 20-day countdown for computerized approval. If accepted, it will mark the primary DOGE-based ETF on the US market.

The put up Dogecoin (DOGE) Momentum Builds as Bulls Target $0.21 Zone appeared first on CryptoPotato.

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