CandleFocus Dogecoin Double-Bottom Breakout: Is a Bullish Rally to $0.15 on the Horizon?
2024-10-15
Author: Content Editor
Dogecoin, the highest-ranking meme coin with a market cap of $16.97 billion, is currently experiencing a double-bottom reversal rally. After a four-day crash in early October, the meme coin has seen a surge in prices, increasing by 2.56% in the past 24 hours and 7.59% in the last 7 days. The breakout occurred with a 4.75% jump, creating a bullish engulfing candle, but a minor intraday pullback followed. Dogecoin is currently trading at a discount of 49.27% from its 52-week high. Technical indicators, such as MACD and EMA, suggest a bullish momentum and the possibility of a breakout. If Dogecoin breaks the resistance trendline, its near-term price targets are set at $0.14265 and $0.1580. The immediate support is the 100-day EMA at $0.1127.
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