DOGE Rebounds After Retesting a Breakout to Confirm Macro Uptrend

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DOGE Broke Above a Bull Flag to Confirm a Macro Uptrend - Analyst
  • Rekt Capital has confirmed a new Macro Uptrend on DOGE.
  • According to the analyst, DOGE broke out of a bull flag to confirm uptrend continuation.
  • The current rally could see DOGE climb as high as $0.33825 in the future.

Rekt Capital, a renowned crypto analyst on X, has confirmed a new Macro Uptrend on DOGE, the memecoin of the Dogecoin blockchain protocol. According to Rekt Capital, DOGE is breaking out of a bull flag to confirm further trend continuation. That is happening after the memecoin confirmed a Macro Uptrend.

Using the weekly DOGE/USDT chart, Rekt Capital showed how DOGE retested the Macro Downtrend ahead of a 45% breakout rally to the upside. He revealed how the memecoin pulled back from a recent surge to $0.20626, dropping to the $0.12650 region before rebounding.

The recent DOGE rebound reflects a continuation of the rally from October 2023, with the bullish breakout confirmed in February this year. Rekt Capital’s analysis showed that DOGE broke above a micro bullish flag around November 2023 and retested the breakout region before continuing upwards.

From the recent price action, DOGE is displaying similar bullish flag breakout behavior, but in a more pronounced way. The memecoin broke above a macro bullish flag, initiating a pullback to retest the breakout region before continuing upward. Such behavior is consistent with classic uptrends in a bullish market.

Notably, Rekt Capital spotted the recent DOGE rebound nearly 10 days ago and predicted that a successful retest would precede an uptrend continuation for Dogecoin. With the retest confirmed, DOGE is heading back toward the recent high of around $0.20626. Breaking above that level could see the memecoin target the next resistance at $0.27817, with a potential push to $0.33825.
DOGE traded for $0.1807 at the time of writing, according to data from TradingView.

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