š„š„š„ #Dogecoinā¬ā© Soars 26% This Week: Can It Reclaim the $0.27 Level?
Dogecoin ($DOGE ) surged by 26% this week, reaching $0.2103 with strong trading volume of $3.99 billion and a market cap of $29.71 billion. DOGE is approaching resistance at $0.2368, and traders are optimistic it could revisit the $0.27 level from 2021.
Bullish Indicators and Golden Cross
- A Golden Crossāwhere the 50-day moving average crosses above the 200-day averageāsignals a potential long-term uptrend for DOGE. Additionally, DOGE has broken above the 0.786 Fibonacci level at $0.1832, suggesting strong buying pressure and potential for further gains. Key targets include $0.2368 and $0.27, with support at $0.14 and the 200-day SMA at $0.1281.
On-Chain Metrics Show Strong Support
- On-chain data is positive, with 88.64% of DOGE addresses āIn the Moneyā around $0.2019, indicating reduced sell-off risk. The In/Out of the Money metric highlights a strong support zone between $0.166 and $0.226, reinforcing DOGEās resilience near resistance levels.
#PriceOutlook : Targeting $0.27
- If DOGE surpasses $0.2368, it could reach $0.27, with additional resistance near $0.30. In case of a pullback, support levels at $0.1832 and $0.1537 could help cushion the price. Technical and on-chain metrics support a bullish trend, making $0.27 a realistic near-term target if buying interest continues.
