Dogecoin Eyes Rebound as MACD Turns Bullish Post-Crash

In Brief

• DOGE forms bullish pennant on 4-hour chart, signalling potential continuation of uptrend.
  
• MACD crossover and green histogram confirm early bullish momentum in short-term price action.
  
• Over $140M in DOGE outflows hint at accumulation despite recent crypto market volatility.
  

Dogecoin (DOGE) shows early signs of recovery after bouncing from $0.18 to $0.21 during recent trading sessions. According to CoinMarketCap, DOGE is now trading at $0.2104, up 10.35% over the last 24 hours and 1.20% in the past hour.

This price movement follows steep weekly losses, as DOGE remains down 18.09% over the last seven days after the broader crypto crash. However, improving technical indicators suggest growing optimism among traders despite the recent turbulence.

Trader Tardigrade highlighted a bullish MACD crossover on the 4-hour timeframe, signalling the start of possible upward momentum. The MACD line crossed above the signal line, while the histogram turned green, reinforcing the strength of the signal.

DOGE’s price holding above $0.21 indicates improving sentiment, but sustained buying is needed to challenge the $0.21–$0.22 resistance zone. 

Bullish Pennant Forms as Analysts Target Higher Breakout Levels

Trader Tardigrade also identified a Bullish Pennant on DOGE’s 4-hour chart, suggesting continuation of the recent upward move. The structure formed after a sharp rally and now sits between $0.2080 and $0.2120, indicating price compression.

This setup typically follows a strong rise and signals a potential breakout if DOGE clears $0.2120 with higher volume. If that occurs, the next upside targets could range from $0.22 to $0.225, reflecting potential strength ahead.

Despite recent gains, DOGE faced significant exchange outflows, as CoinGlass reported over $140 million in net outflows on October 10. This marked one of the largest daily withdrawals of the year and pointed to rising off-exchange accumulation.

While short-term recovery is underway, continued resistance testing and sustained momentum will determine if Dogecoin can extend gains beyond the crash rebound. Analysts remain cautiously optimistic as technical patterns align with growing buyer interest.