Dogecoin delivered a technical signal known as a golden cross on its hourly chart, capturing the attention of traders and analysts amid growing momentum. This development shifts focus to a significant on-chain support level, which has been reinforced by recent whale accumulation and could serve as a vital base for DOGE’s next move.
Golden cross and key technical levels
The 50-hour moving average crossed above the 200-hour moving average, generating the golden cross shortly after Dogecoin reversed losses seen the previous day. This turnaround followed the release of a stronger-than-anticipated US jobs report that showed nonfarm payrolls increased by 162,000 in August, well above the consensus estimate of 53,000. The positive labor data prompted traders to increase expectations of a possible interest rate hike at the Federal Reserve’s upcoming meeting.
Dogecoin climbed 4.30% over the past 24 hours to reach $0.0877, and has risen 2.57% on a weekly basis. The move has put DOGE in a technically robust position, with market participants closely observing whether this momentum can persist.
Analysts have identified the $0.0813 area as a critical support zone for Dogecoin. Crypto analyst Ali Martinez stated that “whale accumulation has strengthened this major on-chain support floor, where nearly 35 billion DOGE were previously traded.”
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AAPLDogecoin rebounded swiftly from the $0.081 level after testing it on August 3, surging to a high of $0.089. This move confirmed considerable buying interest near the on-chain support, reinforcing its importance for future price action.
Bullish chart patterns and next targets
According to Ali Martinez, as long as Dogecoin maintains support above $0.0813, bullish momentum remains in play, with potential upward targets at $0.1552 and $0.1774. The daily chart has shown a morning doji star, a bullish reversal pattern that typically appears toward the end of a downtrend. This signal suggests weakening selling pressure and growing buying activity.
Dogecoin’s price structure has also formed a bull flag pattern, which provides a projected move toward $0.12. Multiple technical signals continue to develop across higher timeframes, further boosting the case for a possible upward breakout.
Technical signals suggest that a breakout past the $0.088 barrier, aligning with the daily 20-period moving average, could open the door for Dogecoin to test the key $0.10 psychological threshold in the near term.
Market context and smarter trading approaches
Short-term resistance looms at $0.088, but surpassing this level may create space for a push toward $0.10 and beyond. With volatility often triggered by critical events like Federal Reserve decisions or surprise altcoin listings, industry participants increasingly seek solutions that streamline their market monitoring and analysis.
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As Dogecoin sets its sights on higher resistance levels and traders analyze the evolving technical environment, market participants continue to monitor whether ongoing support and accumulation will be sufficient to trigger the next significant move.
