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  Cryptocurrency analyst Cantonmeow said in a quadruple weekly report released on October 27 that Dogecoin showed multiple technical positive signals on the weekly chart. The current price is around $0.208 on the Binance spot market, and he focused on four independent factors of support: VWAP at the cycle high, the cloud “Katana” support line, 0.5 log Fibonacci support, and a significant reduction in sell-side volume during the recent decline. Four reasons to be bullish on Dogecoin Analysts noted that Dogecoin is trying to turn the volume-weighted average price (VWAP) of the cycle high into support. According to his analysis in the post, on the weekly chart, the turning line and the base line of the Ichimoku Balance Sheet have merged together, and this "Katana" support pattern has effectively supported the price. In addition, the 0.5 log Fibonacci support also acts as a protective factor for the price. Judging from the volume-weighted average price (VWAP) chart, Dogecoin is trying to convert the previously broken range into support. If prices sustain above this range, the market's risk-reward could turn positive, as it would mean that marginal players who bought since the cycle high are no longer in the red. In the chart he shared, the price recently bottomed out at $0.09, but quickly rebounded to around $0.21, showing the strong support of the VWAP range.  The Ichimoku further strengthens this analysis. On the weekly chart, the Tenkan-sen and Kijun-sen lines converge around $0.2009. This intersection is known as the “Katana” pattern, and price is currently being supported by this intersection. The Senkou Span remains red and above, covering an area roughly between $0.24 and $0.29, defining the near-term supply zone. To confirm trend resumption, price must break out of this supply area on a weekly close. Until then, prices around $0.20, equivalent to the “Katana shelf,” hold the key to support. If the price loses this level of support, the market may move towards testing deeper support levels. But if the price can hold at this level, the path of least resistance will point to re-engagement with the lower border of the cloud.  The Fibonacci numbers provide an accurate reference for these key levels. Based on cycle highs and lows, Dogecoin is currently holding on to the 0.5x retracement level at multiple weekly closes, specifically at $0.19070, on a logarithmic scale. The 50% retracement level plays a key role in the current structure: if the price confirms a weekly close below this level, it will provide momentum to the bears, potentially pushing the price down to the 0.382 retracement level at $0.13847. If the market continues to remain defensive, the price may rebound to a series of retracement ceilings, including $0.26261 (0.618 retracement), $0.33430 (0.707 retracement), $0.41416 (0.786 retracement), and $0.54318 (0.886 retracement), and may eventually return to the cycle high near $0.73995.  Over the past few months, the price has been trading within a range of $0.16 to $0.27. The price is holding above 0.5 as it moves closer to AVWAP, further supporting the idea that if buyers are able to regain momentum, the price could move back towards $0.20. Changes in trading volume are an uncertain factor and one of the keys to analysts' optimistic expectations. Looking at the multi-year weekly chart, the continued sell-off is accompanied by shrinking volume, with the downward arrow on the chart showing a continued decline in volume towards the lows. However, at the same time, a major impulsive rally in late 2024 produced the highest weekly volume of the cycle. The current downturn lacks such obvious volume and energy distribution characteristics, and the positions of Coinbase and Binance have not expanded, but have decreased. From a market structure perspective, a drop in volume during a pullback is usually typical of a correction. This opens up the possibility of a future reversal if demand can recover.  Taken together, these four supporting factors together paint a market in a strong support zone: the volume-weighted average price (AVWAP) of the cycle high is close to current prices, the “Katana” support level in Ichimoku converges around $0.2009, and the 0.5x log Fibonacci support is below $0.1907. As for the price’s failure path, it is clear enough: if Dogecoin breaks below the $0.19 support at the weekly close, the next support level may appear at $0.13847 (0.382 level). At the same time, the upward path for the price is equally clear: it first needs to break the lower edge of the cloud above $0.20, and then test $0.26261 (0.618 level). If the price breaks below this level on a weekly close, focus will shift to $0.33430 and higher. At the time of writing, Dogecoin (DOGE) is trading at $0.206.  If you have been stumbling around in the currency circle and can't find your direction! In other words, you have been losing money! You can follow me! That’s it for today’s article. We are currently in a bull market and the situation is turbulent. We share passwords every day. If you don’t know what to do in the bull market, you are welcome to scan the code to join the group for free. The spot code and layout strategy of the bull market can be shared for free. Welcome to private message me to join us→ → → Scan the QR code to join the community👇No threshold and no fees  If you can’t add it via WeChat above, you can contact the author on the homepage! 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