Dogecoin Confirms New Macro Uptrend After Retest: Can DOGE Hit $0.2?
Dogecoin (DOGE) has recently confirmed a new macro uptrend. This is after successfully retesting a crucial confluence of support levels, according to a technical analysis by analyst Rekt Capital. This development could signal a potential shift in the cryptocurrency’s long-term price trajectory.
Successful Retest of Macro Downtrend and Range Low Support
Last week, Rekt Capital highlighted that DOGE was in the process of retesting two key support levels simultaneously: the Macro Downtrend and the black Range Low at $0.12. This confluence of support levels was considered a critical area for the cryptocurrency,. This is because a successful retest could pave the way for a potential trend reversal.
Also read: Cryptocurrency: Top 3 AI Coins To Buy Now
In the latest update, the analyst confirms that DOGE has indeed successfully retested this confluent area of support. This development is significant, as it suggests that the previous macro-downtrend has now been flipped into a support level.
DOGE Surges Nearly 23% Following Successful Retest
Following the successful retest of the macro-downtrend and range-low support levels, DOGE has experienced a substantial price surge, gaining nearly 23% in value.
The confirmation of a new macro-uptrend is a notable development for DOGE. This suggests that the cryptocurrency may have entered a new phase of its market cycle.
Also read: Solana Forms Rounding Bottom Pattern: SOL Predicted To Break ATH
Dogecoin is currently trading at $0.1478. Despite the recent 1.8% decline in value, DOGE has experienced an impressive 18.3% increase over the past 7 days.
However, it is important to note that DOGE is still down 26% over the last 30 days, indicating that the cryptocurrency is not entirely out of the woods just yet. Nevertheless, the confirmation of a new macro-uptrend and the 102.7% year-over-year growth suggest that Dogecoin may be poised for further price appreciation in the coming months.
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Dogecoin Confirms New Macro Uptrend After Retest: Can DOGE Hit $0.2?
Dogecoin (DOGE) has recently confirmed a new macro uptrend. This is after successfully retesting a crucial confluence of support levels, according to a technical analysis by analyst Rekt Capital. This development could signal a potential shift in the cryptocurrency’s long-term price trajectory.
Successful Retest of Macro Downtrend and Range Low Support
Last week, Rekt Capital highlighted that DOGE was in the process of retesting two key support levels simultaneously: the Macro Downtrend and the black Range Low at $0.12. This confluence of support levels was considered a critical area for the cryptocurrency,. This is because a successful retest could pave the way for a potential trend reversal.
Also read: Cryptocurrency: Top 3 AI Coins To Buy Now
In the latest update, the analyst confirms that DOGE has indeed successfully retested this confluent area of support. This development is significant, as it suggests that the previous macro-downtrend has now been flipped into a support level.
DOGE Surges Nearly 23% Following Successful Retest
Following the successful retest of the macro-downtrend and range-low support levels, DOGE has experienced a substantial price surge, gaining nearly 23% in value.
The confirmation of a new macro-uptrend is a notable development for DOGE. This suggests that the cryptocurrency may have entered a new phase of its market cycle.
Also read: Solana Forms Rounding Bottom Pattern: SOL Predicted To Break ATH
Dogecoin is currently trading at $0.1478. Despite the recent 1.8% decline in value, DOGE has experienced an impressive 18.3% increase over the past 7 days.
However, it is important to note that DOGE is still down 26% over the last 30 days, indicating that the cryptocurrency is not entirely out of the woods just yet. Nevertheless, the confirmation of a new macro-uptrend and the 102.7% year-over-year growth suggest that Dogecoin may be poised for further price appreciation in the coming months.
Read More