Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dog-themed cryptocurrency Dogecoin is eyeing its first short-term golden cross in the month of July as indications hint at such a setup on the hourly chart.
As seen on the hourly chart, the MA 50 has shifted upwards and might cross above the MA 200 in the next few hours. This setup indicates a potential golden cross, interpreted as a positive signal for price.
This follows as cryptocurrencies, including Dogecoin, see a rebound towards the weekend. The crypto market is ending the week in a better position than where it started, with Dogecoin up 2.84% in the last 24 hours to $0.0756 and 2.84% weekly.
Positive catalysts, including weak U.S. jobs data which reduced expectations for a Federal Reserve interest-rate increase, contributed to the price rebound.
Lighter-than-expected jobs data had suggested that the Federal Reserve could hold off on hiking rates. In this light, the Federal Reserve is now expected to hold its benchmark rate steady in the 3.50%–3.75% range at both the July and September meetings, with the first 25-basis-point hike now priced in for October.
This lifted risk assets and precious metals, with most cryptocurrencies now trading in the green.
$0.1 next?
Dogecoin rebounded from Tuesday's low of $0.069, extending its recovery into the third day.
Dogecoin's open interest has risen 6.11% in the last 24 hours, tallying 14.34 billion coins worth $1.09 billion in monetary terms, the highest since May 16. This figure has been increasing since June 28, a sign of renewed demand for leverage.
The $0.1 level, which coincides with the daily MA 200, remains a key level to be watched. This level has capped Dogecoin's rise since 2026, with price trading below it since November 2025. The $0.089 level, which is the daily MA 50, remains an immediate hurdle to surmount in the short term.
However, the broader market structure remains bearish across most crypto assets following a succession of lower highs and lower lows.
This implies that further buying pressure will be needed to sustain a move higher. Unless this happens, any bounce that appears is more likely a short-term technical reaction than the beginning of a trend reversal.
U.Today Editorial Team
Dan Burgin
