Dogecoin (DOGE) is riding a strong wave of bullish momentum that could push its price up to $0.20. A golden cross on the hourly chart, combined with rising optimism from traders on Binance — where two-thirds are betting on a rally — is fueling the surge.
🔹 Golden Cross Signals Bullish Trend
A golden cross has formed on Dogecoin’s hourly chart — a bullish technical pattern where a short-term moving average crosses above a long-term one. This signal typically marks the start of a strong uptrend. On July 3, DOGE jumped 8% and was trading at $0.174 at the time of writing.
Trading volume soared by 142% to $1.57 billion, showing growing interest in the leading meme coin.
🔹 History Suggests a Repeat Rally
A similar golden cross formed on the chart last month, leading to a surge from $0.18 to $0.20. Now, with a bullish pattern reemerging, the market is speculating whether this scenario could repeat itself.
In addition, a bullish flag pattern is forming — a continuation signal that, if DOGE breaks above the upper trendline, could trigger a 12% rally toward the $0.20 resistance level.
🔹 Technical Indicators Support Bullish Outlook
The RSI (Relative Strength Index) currently sits at 56, indicating growing buying momentum. Market optimism is further reinforced by recent analysis suggesting DOGE could surge by as much as 125%, even amid tensions between Elon Musk and Donald Trump.
If Dogecoin manages to breach the $0.20 mark, the next technical target could be $0.375.
🔹 Binance Traders Lean Bullish
On Binance, 66% of traders are holding long positions on DOGE, while only 33% are shorting it. Open interest (OI) has jumped 13% over the past 24 hours, reaching $2.92 billion — another sign that confidence in Dogecoin’s upside is growing.
A market dominated by long positions generally suggests widespread belief in continued price increases — and that’s exactly what’s playing out for DOGE right now.
Summary
Dogecoin is showing strong bullish signals. The golden cross, increasing volume, trader confidence, and supportive technical indicators all suggest that the leading meme coin could soon hit $0.20. If it breaks through that resistance, the door opens for even higher targets.
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