Dogecoin Shows Signs of Bullish Reversal
Dogecoin (DOGE) is making a comeback. It has crossed the 200-period moving average on the hourly chart. This move suggests that buyers are gaining control. If DOGE stays above this level, it could surge toward $0.32.
Dogecoin (DOGE) is showing signs of a bullish turnaround. It has crossed the 200-period moving average on the hourly chart, indicating that buyers are gaining strength. If DOGE stays above this level, it could surge toward the $0.32 resistance.
Key points to watch:
- DOGE has reclaimed the 200-period moving average, signaling renewed bullish momentum.
- Price is holding above the value area high, supporting an upward trend.
- The next major resistance is at $0.32, aligning with previous liquidity and volume clusters.
DOGE’s recent move began when it reclaimed the point of control, sparking a short-term rally. This reclaim pushed Dogecoin into the upper half of its value area. The current pullback is testing the 200-period moving average and the $0.20 support. This area has historically acted as a strong demand zone.
The confluence between the 200-period moving average and local support adds strength to the setup.If price maintains structure above the 200-period moving average, it reflects market confidence.A sustained hold here could set the stage for Dogecoin to test the $0.27–$0.32 resistance range.
From a volume perspective, market participation remains healthy. The bullish engulfing candles indicate that buyers are stepping in during dips. Though, fading momentum or declining volume near resistance could stall the advance. Maintaining closes above the value area high increases the probability of an extended move upward.
Provided that Dogecoin continues to close hourly candles above its 200-period moving average, the path of least resistance remains to the upside. A decisive break above $0.27 could open the door to a full rotation toward the $0.32 resistance region.
