Dogecoin (DOGE) is currently experiencing a bullish uptrend according to recent technical analysis. The Daily Ichimoku Indicator confirms strong upward momentum, with bullish signals aligning and price momentum supported by Kumo and Chikou Span strength. 📈
This analysis, released by Mutugi Benard, highlights key findings:
– Chikou Span crossed above the price level, a further confirmation of the current uptrend.
– Two profitable long trades remain, with traders encouraged to consider initiating new long positions based on this latest signal.
– Traders are also advised to set take profit levels only when a bearish signal appears.
The recent bullish break above the Kumo cloud on September 8 has strengthened the positive outlook. The ongoing momentum is fueled by strong technical indicators like a green Kumo cloud, strong short-term trend, and a positive mid-term perspective based on price being above the Kumo cloud. A total score of +4 indicates a robust uptrend.
This analysis also points to previous bullish breakouts that have contributed to building a consistent upward framework for Dogecoin.
Overall, the strength of previous trades and ongoing confirmation suggest sustained momentum as long as no bearish signals emerge.