- Dogecoin nears golden cross, signaling potential bullish momentum ahead.
- Key resistance at $0.265 could spark Dogecoin’s next breakout phase.
- Market optimism grows as Dogecoin maintains strong weekly upward trend.
Dogecoin is drawing attention once again as the digital asset inches closer to a potential short-term golden cross on its four-hour chart. According to data shared by TradingView analysts, the 50-day moving average has turned upward and is approaching the 200-day moving average, a setup that often signals a bullish shift when completed.
The meme-inspired cryptocurrency recorded four consecutive green four-hour candles as buying momentum resurfaced early Monday. This followed a rebound in prices after Sunday’s surge to $0.2655, supported by Bitcoin’s move to fresh all-time highs above $125,000 before a mild correction.
At the time of reporting, Dogecoin traded at $0.262, reflecting a 2.12 percent gain over the past 24 hours and a 12 percent increase over the week. Market participants are closely monitoring a decisive close above $0.265, which could open the path toward $0.288 and later $0.305.
Source: Tradingview
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Momentum Builds as Market Sentiment Strengthens
A sustained breakout above these resistance points could push Dogecoin toward the $0.43 region, a level that previously marked heavy resistance earlier in the year. Conversely, downside support remains firm at $0.24 and $0.22, areas that halted a deeper decline in late September.
Besides the technical setup, the broader market mood remains cautious. The ongoing U.S. government shutdown has delayed key economic data releases, including the September jobs report. This lack of macroeconomic clarity adds uncertainty to market direction, though risk assets like cryptocurrencies continue to attract speculative interest.
Additionally, investor focus has shifted to upcoming remarks from Federal Reserve officials. Fed Governor Stephen Miran is expected to speak on Wednesday, followed by Chair Jerome Powell on Thursday. Traders will also parse through the Federal Open Market Committee meeting minutes, searching for clues about future monetary policy moves.
Dogecoin’s short-term outlook remains optimistic as momentum indicators point upward and market sentiment shows resilience. However, the sustainability of this uptrend depends on maintaining support levels and confirming a clean break above $0.265.
If the golden cross materializes, Dogecoin could attract renewed buying interest, reinforcing its place among the top-performing digital assets in the current market cycle.
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