Dogecoin has formed a golden cross on its daily chart as open interest climbs to $1.52 billion, and several analysts expect a breakout toward $0.106. The bullish case builds even as demand for Dogecoin ETFs cools and short positions pick up.
Dogecoin trades at $0.094 on October 6 after dropping 2% in 24 hours. Despite the dip, several analysts expect another bullish leg, pointing to a golden cross that has just appeared on the one-day chart.
Analysts eye a breakout toward $0.106
Analyst Ali Martinez noted that Dogecoin is headed for a breakout after consolidating within a descending triangle. He said a close above the resistance at $0.095 could confirm a bullish breakout toward $0.106.
Another analyst, Sweeped, spotted the same descending triangle on the four-hour chart and suggested Dogecoin could become one of the earliest altcoins to pump in Q4 2026. Analyst TMA sees the coin repeating its 2024 bull fractal, a setup that could precede a move of more than five times.
According to TMA: "DOGE pumped more than 500% from this level in 2024". The bullish outlook comes as the crypto fear and greed index remains in "greed" territory, even as Bitcoin eyes resistance at $85,000.
Open interest rises as ETF demand wanes
Data from CoinGlass shows Dogecoin's open interest rose 0.55% to $1.52 billion, its highest level since September 28. The long/short ratio slipped to 0.89, suggesting short accounts are outpacing long accounts.
Rising short positioning comes as appetite for Dogecoin ETFs cools. Dogecoin ETFs recently reached record weekly inflows in the week ending September 25, but inflows have since dropped to just $327,000 last week, with zero inflows so far this week, according to SoSoValue data.
Golden cross echoes last year's pattern
A golden cross formed after the 50-day moving average crossed above the 200-day moving average. The signal usually marks a shift from bearish to bullish sentiment. However, the last time Dogecoin printed a golden cross, in August 2025, the price fell first and only surged 42% a month after the crossover appeared.
Momentum still looks bullish: the RSI reading of 55 holds up despite the day's dip. Dogecoin needs to close above resistance at $0.097 to confirm a move toward the September high of $0.105. A renewed bout of selling, however, could push the price down to support at $0.092, and then toward the 50-day moving average of $0.088 if that level fails to hold.
Source: CoinGape
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