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 Cryptocurrency analyst Cantonmeow (@cantonmeow) published a quadruple weekly report on Dogecoin on October 27. He said that Dogecoin’s weekly chart is flashing with a series of technically positive signals. Currently, the price is hovering around $0.208 on the Binance spot market, and the setup he highlighted is based on four separate checks: VWAP anchored at the cycle high, Ichimoku “Katana” support, Fibonacci hold on the 0.5 log scale, and a significant reduction in sell-side volume during the recent decline. Four reasons to be bullish on DogecoinCantonese pussy in his Post "Try to reclaim the cycle high AVWAP as support," he wrote. So far, the Ichimoku Conversion Line + Baseline Fusion (blue and red lines merge together), also known as Katana, serves as support. So far, the 0.5 logarithmic Fibonacci sequence from cycle high to cycle low has acted as support. Several exchanges, including Coinbase and Binance, have not seen any trading volume during this downturn, and as long as some volume appears, we can quickly reverse any downward trend. ” On the pegged volume-weighted average price (VWAP) chart, the teal line measured from the Dogecoin cycle peak tracks the market’s volume-weighted cost basis since the 2021 high. Dogecoin is pressuring this range from above/at par, trying to convert it into support after falling below it earlier this month. On a weekly basis, a close above the cycle high AVWAP and subsequent sustainment above the high skews the risk-reward profile positively, as it means that marginal players who bought since the high are no longer in the red. It is worth noting that the latest weekly chart that bottomed below the range (a sharp dip to a low of $0.09) was quickly retraced, and subsequent K-line charts fell back to around $0.21. exist VWAP Rejection of low prices near the anchor point indicates that current prices are unable to sustain distribution.  The Ichimoku framework reinforces this view. On the weekly chart, the Tenkan-sen and Kijun-sen lines converge around $0.2009 (analysts call it a “samurai sword” formation), and prices are currently being supported by this intersection. The Senkou span remains red and trading above, spanning the ~$0.24 to ~$0.29 area that defines the near-term supply zone, which would need to be breached on a weekly close to confirm trend resumption. Until then, Katana was a near-line in the sand at around $0.20 as a shelf； Lose it decisively and the bias will shift towards testing deeper support, but sustain it and the path of least resistance will shift towards re-engaging the lower boundary of the cloud. Fibonacci numbers add precision to these levels. On a logarithmic scale from cycle highs to cycle lows, Dogecoin has held the 0.5x retracement level at $0.19070 on multiple weekly closing levels so far. The 50% line is the pivot point of the current structure: a confirmed weekly close and acceptance below this level will provide momentum for the bears towards the 0.382 level at $0.13847, while continued defense will point the market towards successive retracement caps – the 0.618 level at $0.26261, the 0.707 level at $0.33430, the 0.786 level at $0.41416 price and the 0.886 level at $0.54318 – before fully retracing to the cycle high around $0.73995. The price has been trading within a range of $0.16 to $0.27 for several months； When probing AVWAP, the price was above 0.5, reinforcing the idea that if Buyers can regain momentum, It may return to the mid-range around $0.20. Trading volume is an uncertain factor and one of the four reasons for optimism given by analysts. Weekly charts over the years show continued sell-offs accompanied by shrinking volumes, with downward arrows on the charts indicating consecutive declines in volume to lows. By comparison, the last major impulsive rally in late 2024 produced the highest weekly volume for the cycle. The current downturn lacks such distribution features ； Instead of expanding, Coinbase and Binance positions decreased. From a market structure perspective, lower volumes during pullbacks are typical corrective behavior, leaving room for a sharp reversal if demand picks up. Taken together, these four perspectives paint a market that sits above stacked support levels: the cycle high AVWAP is roughly at current prices, the Ichimoku Katana converges around $0.2009, and the 0.5x log Fibonacci is below $0.19070. Failure path It’s clear enough – a decisive weekly break below the $0.19 support would expose support at $0.13847 ($0.382) – while the path to the upside is equally clear: first a recovery of the lower edge of the cloud in the early $0.20s, then a test of $0.26261 ($0.618), with any weekly close below that level turning the focus to $0.33430 and above. At press time, DOGE was trading at $0.206. 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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