Will DOGE rise higher with this breakout?Current Status: DOGE is trading at $0.0705, sustaining above the 200-day EMA.
Resistance Level: The $0.083 mark is the next significant resistance level for DOGE.
Technical Indicators - RSI: The RSI has entered the overbought zone, signaling a strong uptrend.
Technical Indicators - EMA: Both the 50-day and 200-day EMAs are bullish, suggesting a possible golden crossover.
Recent Performance: DOGE has seen a 20% jump recently, breaking the overhead resistance trendline.
Retest: A bearish engulfing candle has led to a retest of the breakout, which could refuel the uptrend.
Potential Targets: If DOGE successfully retests, it could aim for the $0.083 mark, accounting for an 18% jump.
Downside Risk: A fall below $0.070 could lead to a drop to $0.066.
Long-Term Downtrend: DOGE has reversed a long-term downtrend that saw a 92% drop from its all-time high.
Meme Coin Leader: Being a leader among meme coins, DOGE could spearhead a new bull run in that category.
Market Sentiment: Overall sentiment is bullish, especially if DOGE sustains its current momentum.