Dogecoin

bullish

Shift

Gains

<p>Mikybull, a famous analyst on X, updated his 73.2k followers <a href="https://captainaltcoin.com/dogecoin-doge-price-could-rally-by-up-to-45-soon-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">that Dogecoin’s (DOGE) price </a>has broken out of a 6-month-long downtrend. This shift points out critical technical indicators that suggest bullish momentum could be building for the cryptocurrency.<br><br>Over the past day, <a href="https://captainaltcoin.com/dogecoin-doge-price-is-gearing-up-for-another-bullish-leg-heres-why-0-20-is-next/" target="_blank" rel="noopener noreferrer nofollow">DOGE’s price</a> has seen a decent 7.44% surge, while its trading volume saw a 79.08% jump. At press time, DOGE is trading at $0.1176.</p>
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<h2 class="wp-block-heading" id="doge-chart-analysis-downtrend-breakout-signals-momentum-shift">DOGE Chart Analysis: Downtrend Breakout Signals Momentum Shift</h2>
<p>Mikybull Crypto’s tweet confirmed that Dogecoin had broken a descending trendline that persisted for six months. The DOGE chart is indicating a move above the resistance, suggesting a possible reversal of the bearish trend.<br><br>Mikybull’s Dogecoin chart also indicates that after months of lower highs,<a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow"> DOGE’s price</a> has to push through, setting the stage for a potential upward movement.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DOGE</a> just broke out of the 6-month downtrend.<br><br>It has begun <a href="https://t.co/51Bqh6J8tf" target="_blank" rel="noopener noreferrer nofollow">https://t.co/51Bqh6J8tf</a> <a href="https://t.co/F1OjrePMq6" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/F1OjrePMq6</a></p>— Mikybull <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1839345350785798472?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 26, 2024</a>
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<p>Furthermore, the breakout is seen as a key moment for DOGE’s price action, with analysts predicting that if the cryptocurrency holds above the breakout level, the momentum could carry it further. This shift indicates that buyers may have regained control after months of downward pressure.</p>
<p>Ali Charts, another respected crypto analyst, added further insight with his observation of a relative strength index (RSI) breakout. The RSI, which tracks momentum, has been rising, indicating growing buying pressure after months of weakness.<br><br></p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="776" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-1024x776.png" alt="" class="wp-image-560736" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-1024x776.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-300x227.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-768x582.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-1536x1164.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-2048x1553.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-198x150.png 198w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-100x76.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-462x350.png 462w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654-788x597.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-654.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/ali_charts/status/1839321809495392462" target="_blank" rel="noopener noreferrer nofollow">X/AliCharts</a></em></strong>
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<p><br>The DOGE chart also showed a SuperTrend Buy signal, another bullish indicator commonly used to forecast market direction.</p>
<p>With these two technical indicators aligning, the potential for Dogecoin to continue its upward trajectory becomes stronger. According to Ali’s chart, DOGE could face resistance near the $0.14 level, but there is optimism for further growth if it can maintain the current momentum.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/solana-sol-price-is-getting-ready-to-go-again-says-expert-charts-key-levels-to-watch/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL) Price Is ‘Getting Ready To Go Again,’ Says Expert, Charts Key Levels To Watch</a></em></strong></p>
<h2 class="wp-block-heading" id="will-dogecoin-see-a-potential-45-upside">Will Dogecoin See a Potential 45% Upside?</h2>
<p>Both analysts highlight the potential for Dogecoin to rise even further. Ali’s analysis suggests a potential 45% price increase from the current levels, which could see DOGE testing the $0.14 mark and beyond.<br><br>Finally, with the RSI and SuperTrend providing strong support for this outlook, Dogecoin appears to be entering a period of increased bullishness.</p>
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<p>The post <a href="https://captainaltcoin.com/dogecoin-price-breaks-6-month-downtrend-is-doge-primed-for-a-rally/" rel="noopener noreferrer nofollow">Dogecoin Price Breaks 6-Month Downtrend: Is DOGE Primed for a Rally?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Dogecoin Price Breaks 6-Month Downtrend: Is DOGE Primed for a Rally?

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