Is DOGE Golden Cross Incoming? What to Watch Next

Dogecoin might be on the verge of a short-term golden cross, with key levels now crucial to watch.

As seen on the four-hour chart., the 50 MA has turned up and is ready to converge with the 200 MA. A golden cross will emerge if the 50 MA crosses above the 200 MA, a bullish indication in the short term.

Dogecoin has marked four consecutive green four-hour candles as the price rebounded early Monday.

Dogecoin saw a surge on Sunday to $0.2655 as Bitcoin rose to all-time highs above $125,000 before retracing. At press time, DOGE was back in the green, up 2.12% in the last 24 hours to $0.262 and up 12% weekly.

What to watch next?

A decisive close above $0.265 will be watched in the short term for Dogecoin to seek to move to the next targets at $0.288 and $0.305. If this is achieved, Dogecoin might move toward $0.43.

Support is envisaged at $0.24 and then $0.22, which prevented Dogecoin from a further drop in late September.

The government shutdown, which began at the start of October, stretches on as lawmakers once again failed to reach a deal to keep the government open.

Investors are facing an economic data blackout owing to the shutdown, including the September jobs report, which was meant to be released last Friday.

This week, investors will watch out for speeches from several Federal Reserve officials, including Fed Governor Stephen Miran on Wednesday and Chair Jerome Powell on Thursday. They will also parse through the Federal Open Market Committee meeting minutes on Wednesday.