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Dogecoin price nears bullish triangle breakout, can it recover to its February highs?

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Dogecoin price is close to confirming a bullish symmetrical triangle breakout on the daily chart.

Dogecoin price is close to confirming a bullish breakout from a symmetrical triangle pattern amid a surge in demand on the derivatives market.

Summary

  • Dogecoin price hit weekly high after reports of U.S.-Iran negotiations calmed investor fears.
  • Dogecoin is close to confirming a bullish symmetrical triangle breakout.

Dogecoin (DOGE) price shot up 17% to a weekly high of $0.103 on Thursday morning Asian time before settling at $0.096 at press time.

Dogecoin’s rally was supported by investor fears cooling off after reports surfaced that Iran has secretly been negotiating a deal with the U.S. to de-escalate the ongoing conflict between the two nations.

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A look at its futures market shows that more investors are now betting in favor of a Dogecoin rally.

According to CoinGlass data weighted funding rate for Dogecoin has turned positive, signalling that long traders are paying short traders to maintain their positions as they anticipate further gains. Such conditions tend to influence retail sentiment positively.

On the daily chart, Dogecoin price is close to confirming a breakout from the upper side of a symmetrical triangle pattern. When an asset breaks out from the upper side of a symmetrical triangle, it is viewed as a very positive signal and typically marks the beginning of a sustained bullish trend.

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Dogecoin price is close to confirming a bullish symmetrical triangle breakout on the daily chart.
Dogecoin price is close to confirming a bullish symmetrical triangle breakout on the daily chart — March 5 | Source: crypto.news

For Dogecoin, a breakout from the pattern could trigger bulls to aggressively push the price to reclaim its February high of around $0.117.

Momentum indicators like the MACD and RSI seem to support the bullish path. The MACD lines were moving upwards while the RSI was close to breaking out of the neutral threshold, which is often the spark needed for a massive rally during periods of high market volatility.

However, it should be noted that a break below the $0.080 support would invalidate the bullish setup.

Meanwhile, a major headwind for Dogecoin is the weak demand for spot ETFs tied to the meme coin, which could limit any sustained rally.

Notably, the three spot DOGE ETFs have so far managed to draw in only $7.45 million in net inflows since their launch in November. These institutional products had gone through a month of no flows before attracting only $779,000 in inflows on March 2.

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Traders may see the muted involvement from major investors as a sign that institutional players remain unconvinced about the meme coin’s long-term prospects, even as retail demand stays strong.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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EUR/USD and GBP/USD at Key Levels Ahead of the Nonfarm Payrolls Release

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EUR/USD and GBP/USD at Key Levels Ahead of the Nonfarm Payrolls Release

European currencies, particularly the pound and the euro, posted a sharp decline at the start of the week before shifting into a corrective rebound. However, the current move appears largely technical in nature, with the market maintaining a cautious stance ahead of the key US labour market report — Nonfarm Payrolls — due for release tomorrow.

Additional pressure on European currencies stems from the strengthening US dollar amid rising geopolitical tensions in the Middle East. The escalation of the conflict between the United States, Israel and Iran has triggered a sharp increase in energy prices. Natural gas prices in Europe have surged on concerns over potential supply disruptions, as the widening conflict has affected the Strait of Hormuz — one of the key arteries for global liquefied natural gas supplies.

Rising energy costs are increasing inflationary risks for the European economy, which has only just begun recovering from the previous energy crisis. According to analysts’ estimates, if current energy price levels persist, inflation in the euro area could rise by around 0.5 percentage points. This reinforces expectations that European central banks may keep interest rates elevated for longer, while simultaneously heightening the risk of a slowdown in economic activity.

EUR/USD

Following its decline at the beginning of the week, EUR/USD found support at 1.1530 and managed to recover above 1.1600. On the daily timeframe, a bullish harami pattern has formed, though it remains unconfirmed. If the pair fails to consolidate above 1.1650 in the coming sessions, a renewed test of recent lows in the 1.1530–1.1570 range cannot be ruled out.

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Key events for EUR/USD:

  • Today at 12:00 (GMT+2): Speech by Bundesbank President Joachim Nagel;
  • Today at 15:30 (GMT+2): US initial jobless claims;
  • Today at 15:30 (GMT+2): US non-farm productivity data.

GBP/USD

At the start of the current trading week, GBP/USD fell below 1.3300. A sharp rebound from 1.3250 led to the formation of a bullish reversal candlestick pattern; however, without a firm break above 1.3400, it is premature to expect a sustained upward correction. Should buyers fail to hold support at 1.3300, the pair may revisit the recent low at 1.3250.

Key events for GBP/USD:

  • Today at 11:30 (GMT+2): UK Construction PMI;
  • Tomorrow at 09:00 (GMT+2): UK Halifax House Price Index;
  • Tomorrow at 15:30 (GMT+2): US Nonfarm Payrolls.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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BTC/USD Analysis: Bitcoin Price Consolidates Above $70,000

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BTC/USD Analysis: Bitcoin Price Consolidates Above $70,000

On 20 February, in the note BTC/USD Analysis: Are the Bulls Stirring?, we outlined a broad descending channel and highlighted early signs of increasing demand near the $65,600 level.

Subsequent price action provided further grounds to suggest that, following the dramatic decline in Bitcoin’s price from its all-time high in October 2025 to the February low around $60,000, market sentiment has begun to shift. This was reflected in the fact that two attempts by the bears to resume the downward movement (as indicated by the arrows) were unsuccessful.

It is possible that the easing of bearish pressure gave bulls greater confidence at the beginning of March, resulting in notable progress. Yesterday, Bitcoin reached its highest level in a month.

Technical Analysis of the BTC/USD Chart

As shown on the chart, the bullish impulse at the start of March led to a breakout above the QL resistance line, as well as the psychological $70,000 level.

From a bearish perspective:
→ classic indicators added to the chart are showing signs of overbought conditions;
→ the median line (M) of the previously constructed channel may act as significant resistance.

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From a bullish perspective:
→ rising trading volumes (highlighted by the arrow) represent a positive signal;
→ a sequence of higher highs and higher lows allows for the construction of a local ascending channel (shown in blue);
→ Bitcoin’s price behaviour following the early February panic resembles an Accumulation phase in Wyckoff methodology. If so, the early March rally may represent a Jump Over The Creek (JOC) pattern, signalling a potential transition into the Mark-Up phase.

Considering the above, it is reasonable to expect the formation of a pullback on the Bitcoin chart — for example, a move towards testing the support zone around the psychological $70,000 level.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Altcoin Social Media Interest Hits 12-Month Low: Santiment

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Cryptocurrencies, Bitcoin Price, Adoption

Mentions of altcoins on social media have reached their lowest level in two years, according to crypto sentiment platform Santiment, while indicators suggest that investors are focusing on Bitcoin. 

Data from Santiment shows that for the week ended Feb. 27, altcoin social dominance scored 33, a sharp drop from its score of 750 in July 2025, around the time Dogecoin (DOGE) rallied 59% over 30 days.

Google worldwide search data shows a similar pattern. The term “altcoins” scored 4 out of 100 near the end of February, compared with a score of 100 during mid-August, according to Google Trends.

Santiment sees the lack of interest as a bullish signal

Santiment said the lack of interest in altcoins is a bullish signal. “Historically, however, moments like these, when social volume toward altcoin interest is at extreme lows, are around the time that rallies begin,” Santiment said in an X post on Thursday.

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Cryptocurrencies, Bitcoin Price, Adoption
Santiment claims the lack of interest is a “strong buy signal.” Source: Santiment

Other indicators also suggest that the market’s focus has been shifting from altcoins. CoinMarketCap’s Altcoin Season Index reads a “Bitcoin Season” score of 34 out of 100.

The index flips between “Altcoin Season” and “Bitcoin Season” scores based on the performance of the top 100 altcoins relative to Bitcoin over the past 90 days.

The total crypto market capitalization has fallen almost 43% since October, now sitting at $2.45 trillion.

Bitcoin jumps more than 7% in the past 24 hours

However, the crypto market has rallied over the past day, after US President Donald Trump said “the US needs to get the Market Structure done, ASAP.”

Related: Bitwise has now donated over $380K to open-source Bitcoin devs

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The price of Bitcoin (BTC) surged 7.51% over the past 24 hours, with compressed volatility, strengthening ETF flows and a diminished Coinbase discount cited as catalysts for the price rise. 

MN Trading Capital founder Michaël van de Poppe said that altcoins could start to take the lead once Bitcoin’s rally begins to slow.

“Great rotation, and I would assume that we’ll see altcoins take more momentum the moment Bitcoin stalls,” van de Poppe said in an X post on Thursday.

Magazine: Bitcoin may face hard fork over any attempt to freeze Satoshi’s coins

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