💥 Dogecoin alert: A ‘Golden Cross’ on price chart means DOGE will…

Irma - Aug 13 - - Dev Community

🚀 Dogecoin's Bullish Momentum: Dogecoin (DOGE) gained 6% over the past week, with an additional 3% increase in the last 24 hours, currently trading at $0.1051. With a market cap exceeding $15 billion, it’s the 9th largest crypto.

📈 Potential Golden Cross Ahead: Crypto analyst Kevin highlighted a down channel for DOGE, suggesting that if it breaks above this pattern, a "golden cross" could occur, potentially leading to a long-term bull rally.

💡 Bullish Signals: According to Santiment data, DOGE's MVRV ratio improved to -4%, indicating a bullish signal. However, trading volume has dropped, showing investor hesitation, which could negatively impact the price.

⚠️ Overvaluation Concerns: DOGE’s NVT ratio spiked, hinting at potential overvaluation and a possible price correction.

📊 Technical Indicators: The MACD shows potential for a bullish crossover, while the Chaikin Money Flow and Money Flow Index (MFI) indicate increasing buying pressure, which could drive prices higher.

🔍 Support and Resistance Levels: If DOGE continues its rally, it may reclaim $0.11, where liquidation acts as resistance. Conversely, if bears take control, DOGE might drop to $0.10 in the coming days.

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