DOGE Confirms Short-Term Golden Cross Amid Weekend Rally

Dogecoin has confirmed a short-term golden cross, a bullish signal for traders. The Moving Average (MA) 50 rose above the MA 200 in a crossover on the hourly chart, indicating this change.

The price increase follows Dogecoin's weekend rally, which saw its value rise for three straight days from Friday to Sunday. It started increasing from a low of $0.068 on July 24 and gained traction on Saturday when meme coins saw sudden momentum. On Sunday, Dogecoin climbed by up to 6% at one point while several memecoins also rose, taking the entire crypto market by surprise.

Ali, a crypto analyst, believes a potential Dogecoin rebound may still be on the cards as the TD Sequential has flashed buy signals on the monthly, weekly, 3-day, and daily charts. He highlighted a major support level for Dogecoin at $0.056, with a rebound toward $0.16 possible if the price recovers. The top of the channel near $0.45 is seen as the broader upside target.