Dogecoin (DOGE) developed a significant bullish divergence signal with the MACD indicator. The bullish MACD divergence signals a potential reversal in the price of Dogecoin. This is a strong bullish reversal signal and is supported by multiple other technical factors that can revive DOGE.
MACD Bullish Divergence
On the daily chart, DOGE's price has made a lower low, but the MACD histogram has printed a higher low. This is a sign that the downside momentum is fading. The MACD divergence puts some doubts on the bearish side and may signal a possible change in the trend direction.
200-Day Moving Average
The 200-day moving average aligns perfectly with the current swing low of $0.16 to provide further support for the bullish case scenario. We know that all prices above the 200-day moving average are considered bullish.
The 200-day moving average also has confluence with the $0.15 support level, adding more weight to this price zone.
Looking Ahead: On the upside, the bulls need to overcome the big psychological number $0.30, which is a key resistance level. At the same time, the MACD histogram along with the MACD's moving average need to cross above the zero levels to provide the needed bullish momentum for DOGE.
MACD Bullish Divergence
On the daily chart, DOGE's price has made a lower low, but the MACD histogram has printed a higher low. This is a sign that the downside momentum is fading. The MACD divergence puts some doubts on the bearish side and may signal a possible change in the trend direction.
200-Day Moving Average
The 200-day moving average aligns perfectly with the current swing low of $0.16 to provide further support for the bullish case scenario. We know that all prices above the 200-day moving average are considered bullish.
The 200-day moving average also has confluence with the $0.15 support level, adding more weight to this price zone.
Looking Ahead: On the upside, the bulls need to overcome the big psychological number $0.30, which is a key resistance level. At the same time, the MACD histogram along with the MACD's moving average need to cross above the zero levels to provide the needed bullish momentum for DOGE.