Dogecoin Breaks Resistance, Begins Vertical Rally… What Is the Unprecedented Signal on the Chart?

▲ Dogecoin (DOGE)

Dogecoin (DOGE) is attempting to recover from earlier losses and find momentum for a rebound, but buyers and sellers remain locked in a tight battle over a break above the upper resistance line.

According to CoinMarketCap on February 12 (local time), Dogecoin has risen about 1.3% since midnight, testing its price recovery strength. Technical indicators on the chart show the Relative Strength Index (RSI) fluctuating around the neutral 50 level as it searches for direction, while the Moving Average Convergence Divergence (MACD) suggests the possibility of a short-term golden cross.

Within the market, open interest has edged up slightly, and retail investors continue to account for a high proportion of trading activity, warranting caution amid potential increases in volatility.

The $0.088 level is currently acting as a strong short-term resistance. If the price fails to decisively break above this zone, a corrective phase that retests the $0.085 support level cannot be ruled out.

Analysts widely agree that in order for Dogecoin to break through major resistance levels and secure upward momentum, substantial capital inflows tied to Bitcoin’s movement will be essential.

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