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The long-term technical structure of Dogecoin is improving again, and analysts are optimistic about the market outlook. Cryptocurrency analyst EtherNasyonaL published the latest technical analysis on the X platform, pointing out that the structure of Dogecoin (DOGE) on a higher time frame is returning to a positive trend. According to its analysis, the market value of Dogecoin has completed bottoming, its momentum is gradually increasing, and a retest breakthrough of the "cup-handle pattern" is about to appear on the monthly market value chart.  The cup-and-handle pattern breakthrough is confirmed, and retest to verify the effectiveness of the support A chart posted by EtherNasyonaL shows a cup-and-handle structure spanning several years forming on the Dogecoin market cap chart. Among them, the "cup body" part covers 2022 to 2023, corresponding to the long recovery period that Dogecoin has experienced after the bull market peaked in 2021. ； “The “Cup with Handle” represents a convergence below a downward resistance trend line that has repeatedly suppressed rebound attempts during the 2022-2023 bear market. This key resistance was finally effectively broken through in late 2024, along with a clear upward trend, marking the first official shift in the long-term downward trend. Even more noteworthy is the fact that the breakout resulted in a successful retest of the original resistance line, now converted into support. In mid-October, Dogecoin briefly dipped to $0.15 before quickly rebounding, confirming the validity of the new support.  In technical analysis, such retests completed on high time frames are usually more credible and often indicate a significant directional market may follow. Based on this judgment, EtherNasyonaL concluded that Dogecoin has completed its momentum-building stage, laying the foundation for a further rise in market value.  Continuing higher lows and the MA25 moving average create a bullish pattern Another key aspect of this analysis is the "higher low" sequence formed by Dogecoin's market capitalization since mid-2023, which shows that the lows of each correction are higher than the previous one, showing a positive structure of a gradually rising bottom. At the same time, the 25-month moving average (MA25) in the chart continues to play a dynamic support role, effectively supporting the price trend. Currently, the market value of Dogecoin is running steadily above this moving average. As long as this support pattern is not destroyed, the overall bullish structure will remain intact. If, as shown in the EtherNasyonaL chart, as the MACD indicator continues to improve and momentum further increases, Dogecoin may usher in a new round of expansion, and its market value is expected to hit the US$100 billion mark. As of press time, Dogecoin is quoted at US$0.20, with a market value of US$29.82 billion. #Currency Circle#BTC#ETH#Cryptocurrency#Dogecoin#Altcoin 📌Click to follow and continue in the next issue  There are many opportunities in the currency circle now, so you need to seize them in time! In the near future, the community will recommend several skyrocketing coins, and I will take everyone to aim at the opportunities to get rich in copycats. There is no problem with the expected space being more than 10 times. Welcome to private message me to join our VX→→mmxy1368； QQ:→→3788353562  |
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