Is Dogecoin Ready to Surge? MACD Golden Cross Says Yes

Dogecoin (DOGE) is showing renewed signs of strength across multiple technical charts.

At the time of writing, DOGE was priced at $0.23, with a 24-hour trading volume of $1.88 billion. The token is up slightly over the past day and down almost 2% over the past week.

MACD Signal Suggests Momentum Shift

A chart posted by analyst Trader Tardigrade shows a MACD Golden Cross on the 12-hour timeframe. This occurs when the MACD line crosses above the signal line, often viewed as a shift in momentum. In this case, the MACD histogram has also turned green, indicating that bullish momentum may be starting to build.

A similar pattern formed in early September, just before DOGE moved sharply from $0.23 to above $0.32. While the current setup mirrors that surge, analysts say more volume and continued movement are needed to confirm any trend change.

In addition, DOGE continues to trade inside an ascending channel, according to analysis from CryptoBull_360. The structure, visible since mid-April, shows a series of higher highs and higher lows. This channel has so far held, with the asset recently rebounding off the 100-day EMA and the top of the Murrey Math range near $0.22.

DOGE previously posted a 100% move in June and a 48% increase in September under similar conditions. The next resistance is around $0.32, roughly 40% above current levels.

However, narrowing price action also hints at a rising wedge. A breakdown from this formation would cancel the current setup. CryptoBull_360 noted,

#DOGE TA Highlights
Uptrend continuing: #DOGE is making higher highs and lows inside an ascending channel.

Read Original