Dogecoin price targets $0.076, SpaceX shares rise sharply before earnings report

The price of Dogecoin is hovering around US$0.070. SPCX shares continue to rebound before SpaceX released its first earnings report as a listed company.

Summary

The price of Dogecoin is at US$0.07035. Daily momentum is still weak but stabilizing. SPCX rose 4.6% to $119.71, recovering from a low in early August. Dogecoin needs to break through the US$0.07273 - 0.07398 range to strengthen the short-term rebound. SpaceX's earnings report and upcoming internal share unlocking could trigger further volatility.

The price of Dogecoin remains around US$0.070.

According to market data, the current trading price of DOGE is US$0.07035, which is still at the low end of the three-month range. The meme has stabilized since falling back above its May peak of US$0.117, but the daily chart has not yet confirmed a continued bullish reversal. DOGE is currently trading below the Bollinger Band's 20th midline of US$0.07122, which is the resistance level that buyers need to recover first before challenging the upper track of US$0.07398. The daily relative strength index (RSI) was 43.09, slightly above its moving average of 40.42, indicating that momentum has improved but is still below the neutral 50 mark, with bears slightly dominant. The instant price movement of Dogecoin is in sync with the recovery of the broader cryptocurrency market. Bitcoin trades around $63,400, while Ethereum hovers around $1,840. However, DOGE's gains were limited as traders waited for a stronger catalyst.

SpaceX earnings report focuses on Musk-related assets

SpaceX plans to release second-quarter earnings after the U.S. market closes on Tuesday. According to the company's investor announcement, management will hold an audio web conference at 4:30 p.m. EST. This will be SpaceX's first financial report since its initial public offering in June. Investors are expected to focus on Star Chain user growth, starship project spending and the financial impact of the company's artificial intelligence business. Analysts expect SpaceX to have quarterly revenue of approximately $6.8 billion and a loss per share of approximately $0.23. Market forecasts vary, with some predicting quarterly net losses ranging from $1.55 billion to $1.9 billion. Option pricing suggests that SpaceX's share price may fluctuate by about 15% in either direction after the earnings report, which may cause a change in the company's valuation by about $225 billion.

Dogecoin has no direct financial connection with SpaceX's financial report. However, the two assets are linked through the market sentiment surrounding Elon Musk. When Musk's companies dominate U.S. market attention, this connection may attract speculative DOGE transactions, but there is no guarantee that prices will change accordingly.

The price of dogcoin needs to exceed US$0.07398

The daily chart shows that DOGE's first important resistance is at US$0.07273, corresponding to a 78.6% Fibonacci retracement level falling from US$0.09092 to US$0.06778. Closing of the daily line firmly above this level will open up testing space of US$0.07398 on the upper track of the Bollinger Band. Buyers will then need to break through the 61.8% Fibonacci level of $0.07662 to establish a more convincing rally. Continued momentum above US$0.07662 may push prices towards US$0.07935. Subsequent resistance is at US$0.08208 and US$0.08546, but DOGE needs stronger volume and an RSI rise above 50 to support this scenario. On the downside, the Bollinger Market is at US$0.06847. A loss to this level could cause DOGE to fall back to a range low of $0.06778. A break below $0.06778 would negate the current rally and continue the bearish structure that has dominated the daily chart since May.

SPCX Shares Test $119 Fibonacci Resistance

SPCX shares reported $119.71 on a 4-hour chart, an increase of 4.6%. Shares rebounded from lows near $105 and returned to the 78.6% Fibonacci retracement level of $119.34. Holding above $119.34 will give buyers the opportunity to challenge the four-hour supertrend indicator resistance level of $124.15. If a breakthrough of the supertrend line is confirmed, it may change the short-term signal and shift the focus to $130.67. Further resistance is at $138.63 and $146.58. However, given that SPCX has retreated from above $172.34 in early July and a June high of $220, the overall chart remains bearish. The Awesome oscillator remains negative at-10.40, indicating that bearish momentum has not completely disappeared, but its rising bar chart suggests that downward pressure is easing as stock prices rebound. If it fails to hold $119.34, SPCX may fall back to $114 and $110. The main technical support level remains around $104.91.

Financial reports and share unlocking may aggravate volatility

SpaceX's earnings report is not the only event affecting the stock. The lock-up period for the initial public offering will expire on August 6, potentially allowing insiders and early investors to sell as many as 911.5 million shares of stock. This upcoming supply could limit a earnings driven rally or deepen the decline if SpaceX fails to meet market expectations. Conversely, strong Star Chain growth, improved profit margins or clearer spending guidance could help SPCX maintain its recovery. For Dogecoin, when the price remains below US$0.07273, the technical aspect is still neutral and short. SpaceX's earnings report may boost interest in trading around Musk-related assets, but DOGE still needs to confirm a breakthrough of $0.07398 to translate this focus into a stronger price recovery.