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<p><strong>Dogecoin (DOGE) has seen renewed interest this week after breaking out from a multi-year descending triangle pattern on its weekly chart, <a href="https://x.com/ali_charts/status/1718613355886243855?s=20" target="_blank" rel="nofollow">according </a>to crypto analyst Ali.</strong></p> 
<p>Ali pointed out that Dogecoin’s move higher confirms <strong>a buy signal from the TD Sequential indicator</strong> on the weekly timeframe. This adds to the bullish case for the meme-inspired cryptocurrency.</p> 
<p><em>“Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the $DOGE weekly chart! The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces DOGE bullish outlook.”</em> said Ali.</p> 
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<p>Dogecoin has rallied around 15% over the past week. However, the price is currently facing resistance around the $0.07 level, which aligns with its 200-day moving average.</p> 
<p>According to Ali, Dogecoin needs to break above and hold the $0.07 level in order to confirm an uptrend. This would imply a shift from its long-term downtrend to a new bullish trend.</p> 
<p>The relative strength index (RSI), a technical indicator measuring momentum, is currently around 64 for Dogecoin on the weekly chart. An RSI above 70 is considered overbought territory where the asset may be primed for a pullback.</p> 
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<p>If Dogecoin can gain acceptance above its 200-day moving average, it could target further upside toward the next resistance around $0.08. However, failure to break above $0.07 could see the rally stall in the near-term. Traders will be closely watching whether the <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank">meme</a> coin can build on its recent bullish momentum.</p> 
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<p>The post <a rel="nofollow" href="https://captainaltcoin.com/dogecoin-faces-resistance-at-0-07-but-this-doge-indicator-confirms-a-buy-signal/">Dogecoin Faces Resistance at $0.07, but This DOGE Indicator Confirms a ‘Buy Signal’</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Dogecoin Faces Resistance at $0.07, but This DOGE Indicator Confirms a ‘Buy Signal’

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