Dogecoin Golden Cross Sparks Bullish Momentum Amid US Jobs Report

Dogecoin's price has formed a golden cross on its hourly chart, indicating a potential upward trend. This development follows a stronger-than-expected US jobs report that showed nonfarm payrolls increased by 162,000 in August.

The golden cross is a bullish technical signal where the 50-hour moving average crosses above the 200-hour moving average. Dogecoin has also seen whale accumulation at an on-chain support level of $0.0813, which could serve as a vital base for its next move.

According to crypto analyst Ali Martinez, as long as Dogecoin maintains support above $0.0813, bullish momentum remains in play, with potential upward targets at $0.1552 and $0.1774. The daily chart has shown a morning doji star, a bullish reversal pattern that typically appears toward the end of a downtrend.

The price structure has also formed a bull flag pattern, which provides a projected move toward $0.12. Technical signals suggest that breaking past the $0.088 barrier could open the door for Dogecoin to test the key $0.10 psychological threshold in the near term.