Internet Computer

Bull Flag

Dogecoin

Rekt

<p>Dogecoin (DOGE), the popular meme-inspired cryptocurrency, has recently shown impressive price action, confirming a new macro uptrend and breaking out of a bull flag pattern. According to renowned analyst Rekt Capital, these developments position Dogecoin for further upside continuation.</p>
<h2 class="wp-block-heading" id="retesting-the-macro-downtrend-and-breakout-rally">Retesting the Macro Downtrend and Breakout Rally</h2>
<p>Rekt Capital <a href="https://twitter.com/rektcapital/status/1772389422517944360" target="_blank" rel="noopener noreferrer nofollow">highlights</a> that Dogecoin has successfully retested the macro downtrend, which preceded a remarkable 45% breakout rally to the upside. This retest not only confirms the establishment of a new macro uptrend but also sets the stage for potential future gains.</p>
<p>Furthermore, Dogecoin’s breakout from the bull flag pattern indicates that the cryptocurrency is well-positioned for trend continuation. Bull flags are considered one of the most reliable continuation patterns among traders, as they often indicate a brief consolidation period before the previous trend resumes.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-1024x723.png" alt="" class="wp-image-460385" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-1024x723.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-767x541.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-2048x1445.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-213x150.png 213w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188-788x556.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1188.png 1794w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="weekly-candle-closes-above-bull-flag-top">Weekly Candle Closes Above Bull Flag Top</h2>
<p>In an earlier <a href="https://twitter.com/rektcapital/status/1772281344971637186" target="_blank" rel="noopener noreferrer nofollow">tweet</a>, Rekt Capital noted that Dogecoin’s weekly candle closed above the bull flag top, a significant bullish signal. Moreover, DOGE has already retested the bull flag top as new support this week, further validating the breakout.</p>
<p>These technical developments indicate that Dogecoin has taken all the necessary steps to confirm the breakout from the bull flag pattern and position itself for continued upside momentum.</p>
<h2 class="wp-block-heading" id="technical-analysis-by-altfins">Technical Analysis by altFINS</h2>
<p>According to altFINS, a leading technical analysis platform, Dogecoin’s near-term outlook is neutral, with the cryptocurrency currently forming an emerging bullish flag pattern. The platform notes that DOGE is in an uptrend, having spiked up to the $0.20 resistance level for a 150% gain. However, the price became extremely overbought, with the Relative Strength Index (RSI) reaching around 90, leading to a rejection.</p>
<p>For trend traders, altFINS recommends waiting for a breakout, most likely a bullish one, in the direction of the existing uptrend. Once the breakout occurs, the price could revisit $0.20 or higher.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-1024x573.png" alt="" class="wp-image-460377" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-1187-788x440.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>Swing traders, on the other hand, can trade between the pattern trendlines, buying near the support trendline (around $0.11) and selling near the resistance trendline (approximately $0.15).</p>
<h2 class="wp-block-heading" id="momentum-and-support-resistance-levels">Momentum and Support/Resistance Levels</h2>
<p>Dogecoin’s momentum is currently mixed, with the MACD line below the MACD signal line (bearish) but the RSI above 55 (bullish). However, the rising MACD histogram bars suggest that momentum could be nearing another upswing.</p>
<p>The nearest support zone for DOGE is $0.110, followed by the $0.075-$0.080 range. On the upside, the nearest resistance zone is $0.200, followed by $0.250.</p>
<p>Dogecoin’s recent price action, characterized by the confirmation of a new macro uptrend and a breakout from the bull flag pattern, paints a bullish picture for the meme-inspired cryptocurrency. As DOGE continues to navigate the volatile crypto market, traders and investors will be closely monitoring its performance for further signs of upside continuation.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/bitcoins-bearish-signals-suggest-potential-for-prolonged-correction-analyst-cautions-that-btc-is-set-to-move-lower/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s Bearish Signals Suggest Potential for Prolonged Correction: Analyst Cautions That BTC is Set to Move Lower</a></li>
 <li><a href="https://captainaltcoin.com/internet-computer-icp-and-chromia-chr-prices-pumping-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Internet Computer (ICP) And Chromia (CHR) Prices Pumping: Here’s Why</a></li>
 <li><a href="https://captainaltcoin.com/why-meme-coins-like-floki-inu-and-dogecoin-should-be-worried-about-leading-crypto-presale-scorpion-casino/" target="_blank" rel="noopener noreferrer nofollow">Why Meme Coins Like Floki Inu and Dogecoin Should Be Worried About Leading Crypto Presale Scorpion Casino</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/dogecoin-confirms-new-macro-uptrend-analyst-shares-whats-next-for-doge/" rel="noopener noreferrer nofollow">Dogecoin Confirms New Macro Uptrend: Analyst Shares What’s Next For DOGE</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Dogecoin Confirms New Macro Uptrend: Analyst Shares What’s Next For DOGE

Table of Contents

CaptainAltcoin

Other articles published on Mar 26, 2024

Binance to List BONK, FLOKI, FTM Trading Pairs

UK moves toward efficient asset management with fund tokenization

Telegram trading bots force crypto traders to sacrifice self-custody for UX

Man Embarks on Legal Quest for Lost $560 Million Bitcoin Treasure

Dogwifhat (WIF) Price Jumps 20% as Solana Meme Coin Takes Over Top 100

Explore the High-Speed VITE Blockchain: How to Purchase and Utilize VITE Tokens

Join our free newsletter for daily crypto updates!