Dogecoin is eyeing its first short-term golden cross in July after indications hinted at such a setup on the hourly chart. The MA 50 has shifted upwards and might cross above the MA 200 in the next few hours, indicating a potential positive signal for price.
This comes as cryptocurrencies, including Dogecoin, see a rebound towards the weekend. Dogecoin is up 2.84% in the last 24 hours to $0.0756 and 2.84% weekly, with positive catalysts such as weak U.S. jobs data contributing to the price rebound.
The Federal Reserve's decision to hold its benchmark rate steady at both the July and September meetings has lifted risk assets and precious metals, with most cryptocurrencies trading in the green. 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.