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 Dogecoin fell to $0.159, but the RSI indicator, bullish divergence, and whale accumulation suggest a possible trend reversal. Dogecoin (DOGE) is currently trading at $0.159 after losing more than 11% in the past seven days. Despite recent losses, traders are keeping a close eye on signs of a possible rebound in the near term. Several technical indicators suggest that downward momentum may be fading. Bullish divergence forming on daily chartA potential bullish divergence pattern has emerged on the Dogecoin daily chart. Prices continue to make new lows, while the Relative Strength Index (RSI) shows higher lows. Trader Tardigrade shared This pattern usually signals a shift in momentum before prices begin to rebound.
It is worth noting that the divergence area has been marked on the chart, showing the price falling while the RSI indicator is rising. Traders are watching this pattern closely to determine whether Dogecoin can stabilize and form support, pushing the price higher. Meanwhile, Dogecoin (DOGE) is approaching the lower Bollinger Bands on the weekly chart. The lower Bollinger Band track is located at $0.151, slightly lower than the current price. Historically, this level has typically marked an area where selling pressure has subsided.  The Stochastic RSI is also in oversold territory. The %K line is at 5.10 and the %D line is at 9.68, both below the 20 threshold. The two lines begin to curve upward, which could signal the emergence of a golden cross if this trend continues. This would be one of the early signs that prices may rebound. The fractal pattern points to a price target of $1.80.A chart shared by Bitcoinsensus show, The long-term trend for Dogecoin (DOGE) exhibits a recurring structure. Previous rounds of gains have followed a similar pattern - with price bouncing off an ascending green trendline before breaking out significantly. The past few rounds of increases have reached 300% and 500% respectively, and now it seems that the third round of rising cycle is taking shape. If this structure persists, Dogecoin (DOGE) could have a price target near $1.80 based on the slope of previous rounds of gains. The red trend line corresponding to the previous high intersects this area. The current trend coincides with the previous phase in both timing and structure. Whale activity and market environmentData on the chain show , in the past two weeks, the whale wallet has increased its holdings of 4.72 billion Dogecoins (DOGE), worth approximately US$770 million. This accumulation occurred during the recent decline, indicating that despite the overall market weakness, large investors are still positioning themselves. Meanwhile, traders Paying close attention to Possibly ETF-related news. There are rumors that companies such as Bitwise and Grayscale may soon apply to issue spot Dogecoin ETFs. At the same time, the Internet meme currency sector continues to be under pressure, with the total market value of cryptocurrency falling by 2% in recent days. Brothers, if you feel desperate or confused in the current currency circle, I hope this article of mine can help you! The bull market is still here, and now is the golden period for planning. Scan the QR code below to follow our footsteps and seize the wealth code together, welcome the upcoming bull market, and realize our dream of wealth and freedom together! Group content: 1. Seize the opportunity to build a position in the next three months, lead everyone to transcend social strata, and gain the opportunity to gain wealth! 2. Share the short-term band opportunities and long-term investment strategies of altcoin spot to help you make steady profits! Welcome to chat with me privately → WeChat: sui3786 Alternate: 3073259620, scan the code below!  |
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