Skip to content

DOGE prints first-ever MACD golden cross; Bull run imminent?

DOGE prints first-ever MACD golden cross; Bull run imminent?

Although the majority of the cryptocurrency market seems to be in a bit of a pinch lately, Dogecoin (DOGE) is fighting to overcome the setback by having a successful crossing of its first-ever moving average convergence divergence (MACD) golden cross.

Indeed, as the renowned pseudonymous crypto trading expert Trader Tardigrade observed, the famous dog-themed meme crypto asset “is having the first ever MACD Golden Cross,” according to his chart pattern analysis published in an X post on January 21.

Dogecoin MACD golden cross. Source: Trader Tardigrade

Specifically, a golden cross – the opposite of a death cross – is a chart pattern suggesting a major long-term bull market. At the same time, MACD, a popular technical analysis (TA) momentum indicator, crossing the signal line from under it and going over – i.e., making the golden cross – is reinforcing the buy signal.

DOGE price analysis

Meanwhile, Dogecoin was at press time changing hands at the price of $0.083, recording a decline of 2.58% in the last 24 hours, as well as an increase of 2.59% across the previous seven days while many other assets in the crypto industry were stalling – but still a drop of 10.5% on its monthly chart, as of January 22.

Dogecoin 7-day price chart. Source: Finbold

As it happens, the price increase took place a couple of days after the confirmation of Dogecoin’s listing on Flitpay, a popular Indian crypto exchange, allowing its clients in India to make DOGE withdrawals and deposits with a 1% assured bonus for early entrants, as the platform itself stated on January 18.

Interestingly, the artificial intelligence (AI) tool Google Bard has earlier predicted that the chance of DOGE reaching $1 in the future remains high, particularly against the background of possible catalysts like increased adoption and utility, setting this price goal by 2030, as Finbold reported on January 17.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts