Dogecoin's Rally Pause: Bullish Structure Still Intact?

Dogecoin's recent pullback has some wondering if the rally is over. But, key indicators suggest the bullish structure remains, hinting at a potential bigger move ahead.

Dogecoin's Rally Pause: Bullish Structure Still Intact?

Dogecoin's recent performance has been a bit of a rollercoaster, with a pause in its rally causing some jitters. But don't count the Doge out just yet! While it's slipped back from recent highs, the underlying technical structure suggests there might be more bark to this meme coin than meets the eye.

Short-Term Dip, Long-Term Signal

Okay, so DOGE is trading a little in the red compared to the broader crypto market. But, a rare "golden cross" (where the 20-day moving average rises above the 200-day) is still kicking. According to market watchers like Ali Martinez, that's enough to keep the bullish flames burning. He's eyeing a potential rally towards $0.70 if Dogecoin can just push past that pesky $0.36 level.

Why the Pause?

So, what caused this little pit stop on the road to the moon? Well, over 95 million DOGE entered circulation after a scheduled unlock, worth about $22 million. That, combined with a drop in daily trading volumes and broader market liquidations, put some pressure on the price. Plus, social media buzz around Dogecoin dipped a bit too.

Indicators Hint at Renewed Momentum

Don't lose hope, fellow Doge enthusiasts! Momentum gauges suggest the bulls are still hanging around. The MACD has crossed into positive territory, and the relative strength index is high, but not over the top. If Dogecoin can hold its ground around current levels, a climb back towards the mid-$0.30s could set the stage for another run.

Dogecoin: Meme King Reclaims Momentum

Dogecoin is reclaiming its crown with a 19% rebound from its support at $0.1881, now trading around $0.2232. This push is fueled by strong meme-coin sentiment and broader market optimism. DOGE has climbed 6–7% this week, mirroring the bullish shift happening across the altcoin space.

The Bottom Line

For now, traders are playing the waiting game, watching to see if this pause turns into a springboard or the start of a longer cooling-off period. Will Dogecoin bounce back and make a run for new highs? Only time will tell, but the bullish structure suggests the potential is there. Keep your eyes peeled, folks!

So, is Dogecoin ready to unleash the hounds again? It sure looks like it! Keep an eye on those key levels, and who knows, maybe we'll all be howling at the moon soon.