Massive DOGE energy: Strength surges as classic bullish pattern forms
Massive DOGE energy: Strength Surges as Classic Bullish Pattern Forms
In Brief
- • Key Takeaways:
Dogecoin (DOGE)’s technical picture is heating up as multiple indicators align to show increasing bullish momentum, with the daily moving average convergence/divergence (MACD) strengthening and a breakout from a Cup & Handle pattern signaling the potential for upward continuation.
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- DOGE’s MACD histogram is rising, momentum building on daily timeframe.
- MACD bullish crossover supports the move upward.
- Cup & Handle breakout confirmed, targeting $0.211.
Momentum Rising: Daily MACD
Specifically, the daily chart shows DOGE printing increasingly strong MACD histogram bars, indicating rising bullish momentum, according to the analysis shared by renowned cryptocurrency trading expert Trader Tardigrade in an X post on November 11.
Moreover, a recent MACD bullish crossover has added additional confirmation, showing momentum shifting away from sellers and toward buyers. This strengthening makes the popular meme coin increasingly attractive to momentum traders.
Classic Cup & Handle Breakout on 12H
Meanwhile, the analyst observed that DOGE also broke out of a textbook Cup and Handle structure on the 12-hour chart. This pattern typically signals a continuation move, and in this case, the projected breakout target sits at $0.211.
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The pattern structure suggests the early stages of a new upward leg, supported by increasing volume during the breakout.
DOGE Price Outlook
For the time being, DOGE is changing hands at the price of $0.1776, which indicates a drop of 3.89% in the last 24 hours, a 7.64% gain across the previous seven days, and an accumulated loss of 5.66% on its monthly chart, according to the most recent data.
With two major bullish signals lining up, DOGE appears positioned for continued strength, provided that the broader market conditions remain supportive. Dogecoin has a tendency to move quickly once momentum ignites, and the current chart structure is giving early signs of such a shift.
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