DOGE To The Moon: This Dogecoin Metric Just Turned Bullish For The First Time Since 2020

Dogecoin (DOGE) is back in the spotlight as the leading meme coin gears up for a potential surge. This news comes after crypto analyst Kevin (formerly Yomi OG) highlighted a crucial technical indicator that has signaled a bullish reversal for DOGE.

Dogecoin Indicator Flashes Green for the First Time Since 2020

Kevin revealed on an X (formerly Twitter) post that the 12-day Gaussian channel indicator recently turned green on Dogecoin's chart for the first time since December 2020. This, he believes, suggests a "potential strong bullish trend" in the coming months for the meme coin.

Historical Trends Indicate a Bullish Reversal

Kevin emphasized that this indicator has consistently predicted trend changes in the past, further strengthening the case for a bullish reversal in Dogecoin's price action.

Bullish Narrative from Multiple Perspectives

Kevin also noted that Dogecoin has outperformed most altcoins during the recent market downtrend, remaining relatively stable. He predicts that DOGE could move into the "golden pocket" between $0.26 and $0.33 if it maintains its current support levels.

In another analysis, Kevin pointed to a deviation in Dogecoin's four-hour time frame chart, highlighting a return to a larger symmetrical triangle. This, he believes, is a bullish sign. He anticipates that DOGE will attempt to retest the $0.175 price level due to the significant liquidity in that range.

Analyst CrediBULL Crypto Weighs In

CrediBULL Crypto recently commented on Dogecoin's current situation, stating that it has reached a "make it or break it" level. However, he expressed optimism for an upward trend, noting that DOGE has historically rebounded when Bitcoin hits range lows.

Short-Term Bullish Forecast

Crypto analyst Crypto Daily provided a short-term bullish forecast for DOGE, predicting a rise towards $0.33 to $0.35. He added that a break above $0.18308 could lead to further gains, potentially reaching $0.57.