Can DOGE Repeat Its Legendary Rally?
DOGEUSD is currently in a strong bullish momentum, supported by multiple technical signals aligning in favor of the bulls. The Signal Builder previously flashed buy signals, which were followed by a consistent upward trajectory.
Key Factors:
Bullish Ribbon and Support Rebound
The price is decisively trading above the EMA ribbon, indicating a sustained bullish trend. Notably, the recent rebound from the critical support level at 0.060 acted as a launchpad for this upward move, confirming its validity as a strong demand zone.
TSI (True Strength Index) Confirmation
The TSI has not only crossed above the zero line but also established a pattern of higher lows, signaling increasing bullish momentum. Historically, this indicator alignment has preceded significant upward moves in DOGE.
Fibonacci Extension Targets
If we project the previous bullish wave onto the current setup, similar conditions suggest potential targets at 0.800 and 1.280, derived from the 1.618 Fibonacci extension. These levels align well with historical resistance and psychological thresholds, making them logical points for profit-taking.
The market structure and the current momentum favor continued bullishness, provided DOGE maintains its position above the EMA ribbon. Watch the price action near key levels for confirmation of further upside potential.
👨🏻💻💭 What do you think? Are we ready for another Doge rally? 🚀 Drop your thoughts and let’s ride the wave together!
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