Ali Martinez, a cryptocurrency analyst and trader known on the X platform, has recently offered fascinating insights on Dogecoin (DOGE), implying a bullish breakout is just around the corner.
Dogecoin, the largest meme-based cryptocurrency in terms of market capitalization, has drawn traders looking for a winning prospect.
Martinez underlined two important technical signals that can cause a significant price movement in DOGE.
Dogecoin Bulls Awakening
On the daily chart, first the Relative Strength Index (RSI), a vital momentum indicator, is breaking through a declining trendline. Second, Martinez believes DOGE might overcome a noteworthy resistance level of $0.11, thereby allowing more gains.
Martinez sees DOGE rising to $0.14500, an incredible 41% rise from its present value. Currently trading at $0.10470. This view follows Dogecoin’s 8% drop earlier this week from $0.1089 to $0.099. The meme coin recovered by 4.55%, indicating a possible momentum change.
The possibility of a “golden cross” developing on the DOGE chart a technical pattern last seen in January 2021 adds to the optimism. Dogecoin’s price surged by 8,000%, reaching its highest ever level in May 2021 at $0.76 back then.
Usually indicating a huge bullish trend, a golden cross would mean big returns for traders should it materialize once more in the next few weeks.
