Dogecoin (DOGE/USDT) Shows Bullish Reversal Setup

Dogecoin, the 9th largest crypto by marketcap if 21.5B USD, is currently driving in a crucial zone. Currently trading at $0.1282, the memecoin has fallen to nearly 60% in a year and records lows in the weekly and daily time frames, too. 

The crypto was in the concern zone after losing its position below $0.13 amid huge volume spot selling. This level needs to be reclaimed for the coin to stay in the right zone of recovery, else we may see it crossing below its last summer figures. 

DOGE/USDT 4h Chart Is All Bullish

The price movement here shows basic bullish acceleration above $0.12600, a positive sign for the buyer. A purchase can be considered as long as the price remains above $0.1250. 

RSI at 42 shows growing interest of buyers, and a breakthrough of RSI will boost momentum into the resistance of $0.134. A surge above this zone will lead the DOGE price to $0.14. 

In the event of invalidation of the trend, the crypto will move below the $0.12 zone, which becomes riskier. 

Dogecoin Futures Volume Jumps 53,000%

The Dogecoin futures are showing high volatility, with a volume surge of 53,000% to $260 million. This came even before the recent stability of Dogecoin. The Dogecoin ETF and the derivatives surge remain the catalyst for this and the upcoming trend reversal.