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 The recent technical form of Dogecoin (DOGE) has begun to make some analysts restless. Crypto analyst Will Taylor recently posted a weekly chart with a straightforward view: Dogecoin has returned to a position suitable for accumulation in history. If it can really get out of this structure, the increase may exceed 300%. 📈 Where does the 300% increase come from?His conclusion is based almost entirely on technical structure. Judging from the weekly chart, DOGE is currently priced around $0.09006 and is being squeezed at the lower boundary of a wide pennant that has not been broken for many years. The target area he marked is around $0.27304. Converted, this does correspond to a potential increase of 302.43%.  “The technical side of Dogecoin is becoming very interesting again,” Taylor wrote. “The weekly RSI looks to be narrowing and downward momentum is fading. We are retesting past accumulation/support areas and are at the bottom of a larger range (bull flag pattern). In addition, the current price also happens to fall in the area with the largest trading volume, which is often a reversal zone. ” 🔍 Why is this location worthy of attention?The core of technical analysis lies in "convergence": at the price level, it returns to the accumulation area that has formed support many times in the past. From a trading volume perspective, it is located in the most active area of historical trading, indicating that this was the location of fierce competition between bulls and shorts. The weekly RSI has tended to level off after a long-term decline, and the momentum curve has narrowed, indicating that the selling pressure is slowing down, not accelerating. For traders, this "triple confluence" position is often more convincing than a single signal. Taylor also gave some operational ideas: “If you accumulate in batches and only trade within the range, the potential return is 300%. From a technical perspective, this is a good place for spot buying. Of course, it could also break out to the upside, which is where I plan to try. ”  🥇 The Dogecoin/Gold comparison is also worth a lookIn addition to the USD pricing chart, Taylor also posted a weekly chart of DOGE/Gold. Judging from this chart, Dogecoin has also returned to a clear support zone relative to gold, with the RSI close to the oversold zone. While a weakening "relative performance" doesn't necessarily mean a reversal in USD prices, it does at least illustrate one point: Dogecoin's weakness may be approaching its limit, and even if it's just a relative gold repair, it's worth paying attention to. ✅ As of press time, Dogecoin was quoted at $0.09346.From the technical structure point of view, the price is at the superposition of the long-term support zone, the intensive trading volume zone, and the RSI kinetic energy compression zone. For spot players, the observation conditions for "buying low" are indeed present here.  Of course, technical aspects are only part of the market. A real rise also requires external catalysis, such as the stabilization of the market, the progress of X platform integration, or the return of community popularity. But one thing is clear: The dog is once again in a position worth taking a look at. That’s all for today, thank you for your attention!  👉Penguin: 1037184923👈 |
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