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Dogecoin’s upward momentum is building, and the price eyes a breakout from a key chart pattern.
In recent days, Dogecoin (DOGE) has been experiencing an impressive run-up in value, as it surged to a new yearly high. This significant growth has led many traders and analysts alike to revisit their positions on the meme-based cryptocurrency.
MACD indicator suggests DOGE’s positive movement will continue
One of the key indicators that has gained attention is the Moving Average Convergence Divergence (MACD), which demonstrates a positive movement that may sustain DOGE’s renewed uptrend. Notably, Trader Tardigrade pointed out that the MACD indicator is emerging from a triangle consolidation.
In the past, when this pattern occurred, DOGE witnessed a substantial upward performance, resulting in a new yearly high.
Based on this data, Trader Tardigrade predicts another massive pump for DOGE in the forthcoming weeks. This time around, the breakout could propel Dogecoin to rally to the $1 milestone, marking an all-time high.
DOGE trading at $0.20 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Source: https://bitcoinist.com/dogecoin-eyes-key-breakout/
