Golden cross formation and breakout momentum signal extended upside
Dogecoin (DOGE) surged over 7%, breaking out from a bull flag pattern on the daily chart, signaling renewed bullish momentum that could propel prices toward the $0.30 zone in the coming weeks. The move comes as technical indicators align to support a sustained uptrend.
The breakout occurred after DOGE consolidated in a narrow range, forming a classic bull flag structure following its recent recovery from the $0.0028 support zone (highlighted in the chart’s orange area). Price action has now moved above the $0.0032–$0.0033 demand zone (green area), turning it into short-term support.
A key bullish development is the emerging golden cross — where the 50-day moving average is on track to cross above the 200-day moving average. Historically, this signal often precedes multi-week rallies in high-liquidity assets like DOGE.
“Bull flags in trending markets often mark a pause before the next leg higher,” According to BITX technical analyst. “If volume remains elevated and the breakout holds above $0.0033, the measured move target points toward the $0.30 psychological level over the medium term.”
The chart also shows a notable rejection from the $0.00375–$0.0039 supply zone (red area), which now serves as the immediate resistance. A clean break above this level could open the path toward $0.005 before testing higher targets.
Trading volume has picked up during the breakout, confirming buying interest. However, analysts caution that a pullback to retest the breakout zone is possible before continuation. Invalidation of the bullish setup would occur if DOGE closes back below $0.0032 with strong selling pressure.
Overall, DOGE’s technical landscape is shifting in favor of the bulls, with pattern breakouts, rising volume, and moving average alignment pointing to further upside. If momentum sustains, the $0.30 target derived from the flagpole projection could come into play — a potential gain that would mark one of DOGE’s strongest moves in recent months.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.