The post Mapping DOGE’s road to $4 – THESE indicators suggest… appeared on BitcoinEthereumNews.com.

Journalist Posted: February 11, 2025 Dogecoin was holding strong above the upper boundary, thus keeping the path open for a potential rally toward $4. DOGE’S MACD was showing a bullish trend with the MACD line positioned above the signal line. Dogecoin [DOGE], initially created as a meme cryptocurrency, has proven its resilience over time. Recent technical analysis suggests that Dogecoin was maintaining a strong position above a critical threshold, which could pave the way for a rally toward the $4 mark. Can Dogecoin keep climbing? DOGE has been holding above the upper boundary of its trading channel, signaling positive momentum. Source: X As observed in the recent technical analysis, the MACD was showing a bullish trend with the MACD line positioned above the signal line, suggesting that buying pressure is dominant. This aligns with the idea of DOGE possibly pushing higher towards $4. Source: Coinglass However, the RSI was at 69.34, approaching overbought territory. While this typically signals a potential correction, the ongoing bullish momentum indicates sustained buying interest. If DOGE maintains its position without becoming too overbought, it could fuel further upward movement, bringing it closer to the $4 target. Traders’ confidence grows However, the Long/Short Ratio highlights a trend of increasing long positions on DOGE. This rise in long positions suggests growing confidence among traders, which could amplify upward price pressure as more traders bet on price increases. Source: Coinglass The consistent shift towards more long positions reinforces the likelihood of Dogecoin moving towards $4, assuming the current bullish sentiment continues. Fewer sellers, stronger buyers Also, Netflow data from IntoTheBlock shows a noticeable decrease in DOGE being moved to exchanges for selling. Source: IntoTheBlock This reduction in selling pressure suggests that holders are either expecting higher prices or are unwilling to part with their DOGE holdings at current…

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Filed under: News - @ February 11, 2025 4:23 pm