Dogecoin Poised for a Price Surge: Key Indicators Signal Bullish Breakout

Key indicators suggest that Dogecoin (DOGE) may be set for a price surge, according to a well-known crypto trader.

Analyst Ali Martinez shared that DOGE has recently escaped a prolonged downtrend in both its price and the Relative Strength Index (RSI).

#Dogecoin looks strong! #DOGE got an RSI and price breakout from multi-month downtrends, and $DOGE also got a buy signal from the SuperTrend indicator. pic.twitter.com/U2I8rpfPYB

— Ali (@ali_charts) September 26, 2024

The RSI, a momentum oscillator, helps assess whether an asset is overbought or oversold, with values between 70 and 100 indicating overbought conditions, and 0 to 30 indicating oversold.

Martinez also highlighted a buy signal from Dogecoin’s Supertrend Indicator, which tracks price movements and volatility for trading signals.

#Dogecoin whales bought over 1.40 billion $DOGE in the past 48 hours, worth around $140 million! pic.twitter.com/mBXMti2y3V

— Ali (@ali_charts) September 26, 2024

In addition, significant purchases from Dogecoin whales exceeded 1.40 billion DOGE, valued at approximately $140 million, within a 48-hour timeframe.

READ MORE:

Top Trader Predicts Significant Surge for These Altcoins

Furthermore, Dogecoin has surpassed the $0.111 resistance level, where over 62,270 addresses hold more than 36 billion DOGE.

Martinez noted that if DOGE can maintain this level, it may confirm a bullish breakout, indicating that the route to $0.150 is now more attainable without significant supply barriers.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.