Dogecoin (Doge) is exchanging about $ 0.249, pressing against the top end of a six -week interval between $ 0.22 and $ 0.25. The technical indicators now suggest a potential gathering, with the meme currency that attracts the renewed attention from investors.
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The 20 -day EMA near $ 0.225, together with the average 50 days, 100 days and 200 days grouped below $ 0.220, highlight a strong support area. With the RSI at 60-61, Doge shows constant purchase impetus without being hyper-pity.
In the same way, the Macd histogram became positive, reporting a rebirth in the upright sentiment following the negotiations of tenuous August.
Resistance to $ 0.25 could unlock higher objectives
The short-term trajectory of Dogecoin depends on the fact that it can close over $ 0.246- $ 0.250, a level in which both the resistance bands converge and Bollinger converge. A confirmed breakout can cancel the route to $ 0.263, $ 0.273– $ 0.276 and the maximum of July of $ 0.300.
The support is at $ 0.238- $ 0.240, with deeper levels near $ 0.233- $ 0.231 and EMA at 20 days at $ 0.225. Any decline lower than the Cluster 100/200 days around $ 0.214– $ 0.213 would weaken the bullish configuration.
Market analysts also note the parallel model of the Dogecoin canal, with resistance near $ 0.29. A breakout here could potentially extend the earnings over $ 0.3 up to $ 0.50, based on the measured width of the channel.
DOGE's price trends to the upside on the daily chart. Source: DOGEUSD on Tradingview
Buzz Etf and whale activities add fuel
In addition to the technicians, the foundations are helping optimism to fuel. Grayscale recently submitted a application for an American Etf Dogecoin, while the ETF Dogecoin Rex-Osprey was officially launched on September 11. These developments underlined the increase in institutional interest in the meme coins, a trend once considered unlikely.
In the meantime, the whale activity has increased, with over 10 million doges withdrawn from exchanges. These moves reduce market offer and are generally interpreted as long -term accumulation.
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With institutional products that enter the market and the chain metrics improve, the bullish narrative around Dogecoin is strengthening. A decisive move above $ 0.25 could set the ground for an event to $ 0.30, and perhaps higher if the momentum derives.
Cover the image of chatgpt, dogeusd graphics by tradingView