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.

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.