Dogecoin's (DOGE) Golden Cross Potential, Bitcoin's (BTC) $70,000 Comeback, Solana's (SOL) Big Breakthrough Ahead

A short-term moving average crossing above a long-term moving average causes this phenomenon, which usually indicates a turn in the direction of bullish momentum. Dogecoin is currently trading close to the 100 EMA, a significant level that, should it cross, may indicate that the recent death cross-related bearish sentiment is ending.

A short-term moving average crossing below a long-term moving average, which previously happened, is known as a death cross and suggests that a significant downtrend may be on the horizon. But this story could be turned around by the market's current upbeat attitude.

With 77% of DOGE holders currently profiting at the current price points, on-chain data lends credence to this upbeat assessment. The substantial concentration of major holders shows that important market players are still interested in and supportive of the situation. Bullish indicators from the network's on-chain metrics also point to growing network activity, which frequently occurs before price increases.

Bitcoin moves to $70,000

It is impossible to overstate the significance of this $68,000 cutoff. It acts as a significant resistance level, and breaking through it might trigger a new round of buying pressure and send Bitcoin soaring. A possible breakout that may herald the beginning of a bullish trend is what traders and investors are keeping a careful eye on at this level.

But you also need to take into account the technical indicators that are active. A possible crossover is suggested by the convergence of the 50-day and 100-day exponential moving averages (EMAs).

A bearish signal also known as a death cross may be observed if the 50 EMA crosses below the 100 EMA. This could potentially halt the upward momentum and result in increased selling pressure. The market is still cautiously optimistic despite the imminent danger of a death cross.

Solana slowly retracing

This stage of consolidation suggests that traders are keeping a close eye on the next move. Solana's more ambitious $200 target might become attainable with a successful breakout above $185. Psychologically speaking, this level might draw in more customers and raise the price even further. It is noteworthy though that there isn't a lot of trading volume at the moment. Sometimes, this drop in volume suggests a possible reversal.