Elon Musk‘s favourite meme-coin, Dogecoin (DOGE), has printed a bull flag on the six-hour chart that could signal a push to the $0.084 resistance area.
A glance at the 6-hour DOGE/USDT chart below, courtesy of Tradingview.com, also shows that Dogecoin could undergo a short-term pullback to the lower boundary of the bull flag (blue) around the $0.072 price area before another push to higher levels.
What the One-day DOGE/USDT Chart Says
Zooming out to the one-day DOGE/USDT chart below, it can be observed that Dogecoin is above the 200-day moving average, which is now a support level at around the $0.074 price area. Dogecoin’s daily MFI (green), MACD and RSI (red) are in overbought territory, signalling the possibility of a pullback from current levels around $0.076 to the 200-day moving average.
Once the dip to the 200-day moving average is complete, Dogecoin could then set out towards a slow climb to the $0.084 resistance level.
To note is that the above-mentioned upward potential movements of Dogecoin are hinged upon Bitcoin and the general crypto markets maintaining the bullish sentiment due to BTC breaking past the $17k price ceiling.
If bearishness returns to the crypto markets, Dogecoin could again be headed towards December’s low of $0.06581.
© Solana Daily Brief, Inc. All Rights Reserved. This article is for informational purposes only. It is not to be used as legal, tax, investment, financial, or other advice.