thecryptobasic.com
Dogecoin may be quietly setting up for a momentum shift against Bitcoin, according to crypto trader Surf, who sparked optimism with a fresh update via weekly charts.
Bitcoin has dipped 2.13% over the past day, trading at $65,828. Interestingly, Dogecoin is showing a modest 24-hour gain of 0.52%.
Dogecoin’s divergence from Bitcoin is stirring optimism for a potential price breakout.
Key Points
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Dogecoin shows early signs of outperformance on the weekly $DOGE/$BTC chart.
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Bitcoin dips 2.13%, while $DOGE posts a modest 0.52% gain over the past 24 hours.
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RSI rises against the downtrend, hinting at weakening selling pressure for Dogecoin.
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Traders see the subtle momentum shift as a potential signal for a larger $DOGE move ahead.
“Good $DOGE”
A few hours ago, Surf tweeted “Good $DOGE” as a follow-up to his earlier post, where he shared a $DOGE/$BTC weekly chart with RSI, noting he was “watching the close.”
The updated chart shows a subtle but notable change. Both price and the Relative Strength Index (RSI) have pushed slightly higher compared to the previous setup.
The chart highlights a descending structure on the weekly timeframe, with Dogecoin trading in a major downtrend against Bitcoin. However, the RSI, plotted in white beneath the price action, has ticked upward and is pressing against a falling resistance line.
This small shift appears to be the trigger behind Surf’s renewed confidence.
In technical analysis, when RSI begins to rise while price compresses inside a downtrend, it can indicate weakening selling pressure. A breakout in RSI often precedes a breakout in price, especially on higher timeframes like the weekly chart.
Watching the Weekly Close
Surf’s earlier comment about “watching the close” suggests he was waiting for confirmation. Weekly closes carry more weight than intraday moves, as they reflect sustained buying or selling pressure over a longer period.
With both RSI and price nudging higher into the close, the setup now looks stronger than it did in the previous chart.
What It Could Mean for Dogecoin
The RSI breaking above its descending resistance, with price following through, could mark a reversal in $DOGE/$BTC’s downtrend.
At press time, Dogecoin is trading at $0.09606, having erased losses recorded over the past day and now trading in positive territory, while Bitcoin remains in a dip.
If this trend endures, it would mean Dogecoin is beginning to outperform Bitcoin, showing early signs of capital rotating into meme coins.
Notably, for this trend to continue, Bitcoin’s price must stabilize and move higher. A stronger dip in Bitcoin could quickly erode Dogecoin’s gains as investors reduce exposure to meme coins.
At the moment, the move remains subtle. But traders watching momentum indicators see the slight RSI push as an early signal that Dogecoin may be preparing for a larger move.