Dogecoin (DOGE) Price Prediction: Bullish MACD Signals 180% Rally Ahead!

Dogecoin Primed for Another Surge as Bullish Signal Emerges

Dogecoin (DOGE), the popular meme-inspired cryptocurrency, is poised for another significant price surge. Crypto chart analyst Ali Martinez has identified a bullish signal that has historically preceded 90% to 180% gains for DOGE. This key technical indicator could trigger a substantial price rally, similar to previous instances.

MACD Indicator Predicts Bullish Move

Martinez highlights the Moving Average Convergence Divergence (MACD) indicator, a widely used momentum gauge. On Dogecoin's weekly chart, the MACD is forming a bullish crossover, a signal that has triggered rallies in the past.

This crossover has preceded DOGE surges of 90% and 180%. Another MACD crossover appears imminent, sparking excitement among crypto enthusiasts. If history repeats itself, DOGE may experience another robust price increase.

Dogecoin's Correction Phase Nearing End

On March 28, 2024, Dogecoin reached its yearly high of $0.22 after a five-wave uptrend. However, it subsequently entered a correction period, forming a descending triangle. Current technical signals suggest this correction may be concluding.

Fibonacci Extension Targets

As Dogecoin resumes its ascent, analysts believe it has completed wave 3 of its upward trend, reaching the 1.618 Fibonacci extension level at $0.13. The next target could be the 2.272 Fibonacci level, around $0.144, indicating a potential new high.

Bullish Outlook Reinforced

The breakout and retest of previous resistance, which now serves as support, further bolster the bullish outlook for DOGE. With key indicators aligning, Dogecoin is poised for another strong price surge.

Current Price Update

Dogecoin is currently trading at around $0.11, slightly down over the last 24 hours. Investors are closely monitoring the situation for signs of an upward move.

Conclusion

Dogecoin's bullish signal raises expectations for another significant price surge. While the timing of the breakout remains uncertain, analysts are eagerly awaiting confirmation of the signal to gauge the potential rally's extent.