Market
Analyzing DOGE Latest Bullish Signs and Market Support
Dogecoin (DOGE) price is showing signs of bullish momentum, as recent technical indicators point toward potential gains. The Ichimoku Cloud, EMA lines, and DMI all suggest positive movement, though the strength of the trend is still uncertain.
Buyers are gaining control, but the momentum needs to strengthen to confirm a solid uptrend. Traders should watch key support and resistance levels for indications of where the DOGE price might head next.
DOGE Ichimoku Cloud Shows a Bullish Setting
The Ichimoku Cloud on the 4-hour chart shows a bullish sentiment, with DOGE trading above the green Kumo. This suggests strong buyer control and positive momentum.
The cloud’s current thickness provides a solid support level, implying that any downward corrections may be limited unless bearish pressure increases significantly.
Read more: Dogecoin (DOGE) vs Shiba Inu (SHIB): What’s the Difference?
The Tenkan-sen (red line) recently crossed above the Kijun-sen (blue line), signaling short-term strength and a likely continuation of the uptrend.
Additionally, the Chikou Span (green line) is positioned well above the price curve, further supporting the bullish outlook. To maintain this positive trend, the price must remain above the cloud while the Kumo stays green.
Dogecoin Current Trend is Still Not That Strong
The Directional Movement Index (DMI) chart for Dogecoin shows mixed signals regarding the strength of the current trend. The yellow line represents the Average Directional Index (ADX), which measures trend strength.
Currently, the ADX is below 20, indicating that there is no strong trend in place at the moment. When the ADX value is low, it typically means that the market is ranging or lacking clear direction.
The blue line (+DI) and red line (-DI) represent buying and selling pressure, respectively. The +DI is slightly above the -DI, indicating that buyers have a slight edge over sellers. However, with both lines relatively close together, this suggests that the buying momentum is not overwhelmingly strong.
For a stronger signal, a wider separation between +DI and -DI would be needed, accompanied by an increasing ADX value, which would confirm a solid trend direction for DOGE.
DOGE Price Prediction: Biggest Price Since April?
The EMA lines on the 4-hour chart for Dogecoin price suggest a mixed trend with some bullish signs. The price is sitting above all EMA lines: this alignment generally indicates that the short-term to long-term momentum is in favor of the bulls, suggesting upward movement.
As indicated by the red lines, immediate support is found around the $0.11996 and $0.10858 levels. These levels have previously acted as strong zones where buyers stepped in.
Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030
On the upside, key resistance levels are at $0.17526 and $0.20355, highlighted by the blue lines. If the uptrend continues and DOGE can rise to $0.175, this would mean a potential 20% price growth. A rise until $0.20355 would mean the biggest price for DOGE since April.
Breaking above these resistance levels would likely indicate a continuation of the bullish trend, while a failure to do so could result in a pullback to test the support zones.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Price Sets the Stage for More Gains: Bulls Hold the Momentum
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Market
Donald Trump Unaware of TRUMP Meme Coin’s Success
In a press conference on January 21, US President Donald Trump responded to questions about his meme coin, TRUMP, admitting that he had limited knowledge of the token despite its market success.
His comments led to a brief dip in the token’s price, which subsequently rebounded.
Donald Trump Talks TRUMP Coin: Price Fluctuates
Speaking from the White House, Trump responded to inquiries about whether he was personally benefiting from the token, stating that he was unsure if he had profited from it.
The conference primarily focused on the announcement of a $500 billion investment in the “Stargate AI” artificial intelligence infrastructure project. President Trump was joined by OpenAI CEO Sam Altman, Oracle’s Chief Technology Officer Larry Ellison, and SoftBank CEO Masayoshi Son.
When asked about TRUMP, the President appeared uncertain about its details.
“I don’t know where it is. I don’t know much about it other than I launched it, other than it was very successful,” Trump said.
Following his remarks, the token’s value briefly plummeted, prompting reactions from the financial community. Alex Krüger, founder of Aike Capital, highlighted the decline on social media platform X (formerly Twitter).
Bloomberg analyst James Seyffart also weighed in.
“Trump just nuked his own memecoin, Seyffart noted on X.
Despite the temporary setback, TRUMP quickly rebounded. At the time of reporting, it was trading at $41.24, reflecting a 15% increase in the past 24 hours.
The meme coin’s market capitalization stood at $8.24 billion. This marked a notable increase as the token’s market cap dropped to $7.5 billion after inauguration day.
When informed that his token generated billions, Trump remarked, “Several billion … that’s peanuts for these guys,” gesturing toward the CEOs accompanying him.
The “Official Trump” token, launched last week, experienced a rapid surge of over 1,100%, rising from $6 to $75 within 36 hours. However, the ownership stake remains unclear, with two entities tied to the Trump Organization controlling 80% of the supply.
Notably, the latest Forbes analysis debunked claims of a $58 billion windfall for Trump. The analysis highlighted that these estimates were based on the token’s fully diluted valuation, which factors in non-circulating tokens. With 800 million tokens locked, an 80% stake is estimated at $6.2 billion, though this figure is subject to market fluctuations.
Despite the volatility, the broader market has shown significant interest in meme coins. As BeInCrypto reported earlier, Rex Shares recently filed for meme coin exchange-traded funds (ETFs) that include TRUMP, BONK, and DOGE.
Meanwhile, meme coins stay true to their volatile nature, with TRUMP not being the only one experiencing sharp fluctuations. First Lady Melania Trump’s meme coin, MELANIA, hit an all-time high of $13 on January 20 but later dropped to around $4.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Solana (SOL) Ignites New Momentum: Bulls Target Higher Ground
Solana started a fresh increase above the $240 resistance. SOL price is back above $2500 and might aim for a fresh increase above the $262 zone.
- SOL price started a fresh increase above the $240 and $250 levels against the US Dollar.
- The price is now trading above $250 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $245 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could start a fresh increase if the bulls clear the $262 zone.
Solana Price Reclaims $250
Solana price formed a base above $225 and started a decent upward move, like Bitcoin and Ethereum. SOL was able to climb above the $235 and $240 resistance levels.
There was a break above a key bearish trend line with resistance at $245 on the hourly chart of the SOL/USD pair. The pair even cleared the 50% Fib retracement level of the downward move from the $272 swing high to the $230 low.
Solana is now trading above $250 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $262 level or the 76.4% Fib retracement level of the downward move from the $272 swing high to the $230 low.
The next major resistance is near the $272 level. The main resistance could be $280. A successful close above the $280 resistance zone could set the pace for another steady increase. The next key resistance is $292. Any more gains might send the price toward the $300 level.
Another Decline in SOL?
If SOL fails to rise above the $262 resistance, it could start another decline. Initial support on the downside is near the $250 zone and the 100-hourly simple moving average.
The first major support is near the $240 level. A break below the $240 level might send the price toward the $230 zone. If there is a close below the $230 support, the price could decline toward the $215 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $250 and $240.
Major Resistance Levels – $262 and $272.
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