{"id":645107,"date":"2024-09-28T08:00:00","date_gmt":"2024-09-28T08:00:00","guid":{"rendered":"https:\/\/wncen.com\/?p=645107"},"modified":"2024-09-27T15:47:50","modified_gmt":"2024-09-27T15:47:50","slug":"dogecoin-to-the-moon-trading-guru-sees-a-bullish-breakout-on-the-horizon-heres-why","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-to-the-moon-trading-guru-sees-a-bullish-breakout-on-the-horizon-heres-why\/","title":{"rendered":"Dogecoin To The Moon? Trading Guru Sees A Bullish Breakout on the Horizon\u2014Here\u2019s Why"},"content":{"rendered":"

Veteran commodity trader Peter Brandt recently drew attention to Dogecoin (DOGE), the largest meme-based cryptocurrency by market capitalization, suggesting a potential bullish breakout.<\/p>\n

Brandt shared a DOGE\/USDT chart in a post<\/a> on X, pointing to a breakout DOGE<\/a> has recently achieved from a descending channel that the asset has been stuck in for over half a year.<\/p>\n

Related Reading: Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?<\/a><\/div>\n

Identified Bullish Momentum in Dogecoin<\/h2>\n

The chart shared by Brandt further reveals that DOGE, which had previously been trading within a horizontal channel for roughly two years between July 2022 and July 2024, experienced fluctuations between a lower trend line of $0.05 and an upper level of $0.1181.<\/p>\n

\"DOGE\/USDT
DOGE\/USDT price chart. | Source: Peter Brandt on X<\/figcaption><\/figure>\n

DOGE peaked at $0.2100 in March before entering its descending pattern. Now, signs indicate that DOGE might be breaking free<\/a> from this downward trend.<\/p>\n

Brandt emphasized that the longer-term chart for DOGE could be considered “constructive,” supporting his analysis with the encouraging message, \u201cGet along little doggie.\u201d So far, DOGE has been riding the positive wave seen in the broader crypto market.<\/p>\n

\"Dogecoin
DOGE price is moving upwards on the 2-hour chart. Source: DOGE\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

The asset’s price climbed 8.2% in the past 24 hours, trading at around $0.1235. While this upward trend aligns with the market’s general bullish sentiment, Brandt\u2019s technical analysis suggests that DOGE\u2019s breakout could signal the beginning of a more sustained upward movement<\/a>.<\/p>\n

Other Bullish Indicators for DOGE’s Momentum<\/h2>\n

Peter Brandt’s observation is not the only bullish sentiment surrounding Dogecoin. Another prominent crypto analyst, Ali, recently noted that DOGE appears to be showing strength<\/a>.<\/p>\n

In an X post<\/a> uploaded on September 26, Ali pointed out that DOGE has experienced a Relative Strength Index (RSI) and price breakout from multi-month downtrends.<\/p>\n

Furthermore, the asset has received a buy signal from the SuperTrend indicator. These developments indicate that momentum is potentially shifting toward the meme-based cryptocurrency.<\/p>\n

Before DOGE\u2019s surge above $0.12 today, Ali had set specific conditions<\/a> for a full-fledged bullish rally for the asset. These conditions included breaking the descending trendline of RSI on the daily chart and pushing past a resistance level of $0.11.<\/p>\n

\n

#Dogecoin<\/a> is gearing up for a bullish breakout! Watch for two key signals:<\/p>\n

\u2b55\ufe0fFirst, RSI breaking the descending trendline on the daily chart.
\n\u2b55\ufe0fAnd second, $DOGE<\/a> surging past the $0.11 resistance! pic.twitter.com\/7i1QMXNi3F<\/a><\/p>\n

\u2014 Ali (@ali_charts) September 19, 2024<\/a><\/p><\/blockquote>\n

With DOGE successfully achieving both conditions, the analyst’s sentiment has grown increasingly positive<\/a> about the possibility of an extended rally.<\/p>\n

Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear?<\/a><\/div>\n

DOGE’s ability to break key technical levels provides a favorable outlook for further price appreciation, indicating that the current rally might not be just a short-term burst.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Veteran commodity trader Peter Brandt recently drew attention to Dogecoin (DOGE), the largest meme-based cryptocurrency by market capitalization, suggesting a potential bullish breakout. Brandt shared a DOGE\/USDT chart in a post on X, pointing to a breakout DOGE has recently achieved from a descending channel that the asset has been stuck in for over half a year. Related Reading: Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First? Identified Bullish Momentum in Dogecoin The chart shared by Brandt further reveals that DOGE, which had previously been trading within a horizontal channel for roughly two years between July 2022 and July 2024, experienced fluctuations between a lower trend line of $0.05 and an upper level of $0.1181. DOGE peaked at $0.2100 in March before entering its descending pattern. Now, signs indicate that DOGE might be breaking free from this downward trend. Brandt emphasized that the longer-term chart for DOGE could be considered “constructive,” supporting his analysis with the encouraging message, \u201cGet along little doggie.\u201d So far, DOGE has been riding the positive wave seen in the broader crypto market. The asset’s price climbed 8.2% in the past 24 hours, trading at around $0.1235. While this upward trend aligns with the market’s general bullish sentiment, Brandt\u2019s technical analysis suggests that DOGE\u2019s breakout could signal the beginning of a more sustained upward movement. Other Bullish Indicators for DOGE’s Momentum Peter Brandt’s observation is not the only bullish sentiment surrounding Dogecoin. Another prominent crypto analyst, Ali, recently noted that DOGE appears to be showing strength. In an X post uploaded on September 26, Ali pointed out that DOGE has experienced a Relative Strength Index (RSI) and price breakout from multi-month downtrends. Furthermore, the asset has received a buy signal from the SuperTrend indicator. These developments indicate that momentum is potentially shifting toward the meme-based cryptocurrency. Before DOGE\u2019s surge above $0.12 today, Ali had set specific conditions for a full-fledged bullish rally for the asset. These conditions included breaking the descending trendline of RSI on the daily chart and pushing past a resistance level of $0.11. #Dogecoin is gearing up for a bullish breakout! Watch for two key signals: \u2b55\ufe0fFirst, RSI breaking the descending trendline on the daily chart. \u2b55\ufe0fAnd second, $DOGE surging past the $0.11 resistance! pic.twitter.com\/7i1QMXNi3F \u2014 Ali (@ali_charts) September 19, 2024 With DOGE successfully achieving both conditions, the analyst’s sentiment has grown increasingly positive about the possibility of an extended rally. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? DOGE’s ability to break key technical levels provides a favorable outlook for further price appreciation, indicating that the current rally might not be just a short-term burst. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":645115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[134,6664,10923,1785,92231,7,89722,79600,85699],"class_list":["post-645107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoin","tag-crypto","tag-crypto-market","tag-doge","tag-doge-analysis","tag-dogecoin","tag-dogecoin-price-prediction","tag-dogeusdt","tag-memecoin"],"acf":[],"yoast_head":"\nDogecoin To The Moon? 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin To The Moon? 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