DOGE is Setting Up For A New Upward Rally Following Recent Rebound

• Rekt Capital has spotted a developing uptrend on Dogecoin.
• DOGE rebounded 24% to set up a potential upward movement.
• Dogecoin is trading between $0.12 and $0.20 ahead of a confirming uptrend.

Rekt Capital, a crypto analyst on X, has spotted a developing uptrend on Dogecoin amid the current market conditions. In a recent post, the renowned analyst highlighted that DOGE has tagged the macro downtrend for a successful retest, rebounding 24%.

Explaining his analysis, Rekt Capital showed a reversal candle that formed on the DOGE/USDT weekly chart on TradingView. He revealed how the candle bounced off significant support around the $0.12650 level, reflecting a retest of that level ahead of resuming its uptrend.

Meanwhile, the analyst showed Dogecoin’s uptrend started in October 2023, when the memecoin bounced off support at $0.0574. However, the move boosted last February after DOGE su…

The post DOGE is Setting Up For A New Upward Rally Following Recent Rebound appeared first on Coin Edition.