Dogecoin DOGE is painter with bullish momentum over the chart. In addition, one of the market’s most important technical indicators, the 3-day MACD bullish crossover pattern, has just been confirmed. This pattern, combined with key support and resistance areas, points to a potential breakout for the favorite meme coin of millions. At the time of writing, Dogecoin price is $0.1658 with a 24-hour gain of 0.59%.
Dogecoin’s current 24-hour trading volume is $954.45 million, indicating strong demand and trading activity for the cryptocurrency. Dogecoin boasts a market capitalization of $24.69 billion indicating it is still an important coin in the crypto market. Trader Tardigrade called out the 3-day MACD bullish crossover pattern as an important sign for possible bullish price action.
The sustainability of this bullish pattern depends on Dogecoin’s capacity to hold its support at $0.13. For the bullish trend to stay intact and avoid a potential price drop to alarming levels, this support level is essential. Top crypto analyst Ali Martinez is making bullish Dogecoin price predictions for the next week. His comments underscore the rising optimism that is building around the coin.
Despite prices tumbling, Dogecoin is still attempting to break a key barrier at $0.17. A sustained breakout above this high would likely catalyze an even steeper ascent, perhaps driving the token up to $0.21. If this bullish momentum is sustained, Dogecoin price may retest the immediate upside target at $0.29. This bull run is only possible if $0.13 is held as the new support and $0.17 resistance is broken.
Even with the optimistic view of things paying off, Dogecoin noting a major decline in overall user activity. It’s important to note that daily active addresses are down 98% from peak Dec 2020 levels. All bullish predictions put Dogecoin at least at $5 if the dog coiners get back to the 100 million daily users.
