Dogecoin Rally On Thin Ice: Analyst Predicts Sudden Shakeout

Dogecoin begins the new trading week in an unusually risky place on the high -time chart: technically, but it clearly extends. A group of weekly studies shared by the Cantonian Cantone Cantonone Mim Quinn market will press resistance after a sudden gathering for two weeks, which added approximately 80 percent of its lowest level in June. analyst Warnings This step, despite its structural ascension, may require a brief decline in monotheism before other gains.

Excessive dogecoin?

In the logarithmic decline in Fibonacci, which was drawn through the range of 2024-25, a candle last week managed to close marginally above the level of 0.618 at 0.262 dollars – a region that crowned every collapse attempt since January. The closure was technically important: in classic market engineering, the restoration of 61.8 percent of the recovery often indicates the transition from recovery to the expansion of the direction.

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“I have shattered the FIB record 0.618, which could use a bullish back test,” she said, adding that returning to that same area “will go back” back “double tape that is about $ 0.15 early in the quarter.

Bollinger – Band emphasizes the risk of average average short -term. The weekly DOGECOIN closure at $ 0.267 is the first in eleven months to stabilize outside the upper range, which is currently near $ 0.262. This closure is rare for a high -time scheme in the frame, and is usually followed by at least one candle that re -inserts the gangs.

“It is above the Bollinger”, the analyst notes. Historically, Dukwin has struggled to maintain height when this spread becomes extreme, and often retreats to the middle range – now near $ 0.19 – or in stronger courses, to the same upper range the following week.

Ichimoku shot tells a similar story of progress. PRICE has settled the Tenkan -SEN and the Kijun -Sen, confirming the budget momentum on these standards, but it is still installed under the underside of the weekly cloud. Senkō SPAN B, which determines that the lower cloud borders are about $ 0.28 – $ 0.29, exactly exactly that Dogecoin stopped on the final trading day last week.

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The cantone cats that are the region “Ichimoku” and warns that in order to penetrate the crucial proximity of the cloud, the level should be dealt with as the show. Thus, a brief decline will allow Kijun -Sen (about $ 0.23) and 0.618 Fibonacci levels for his convergence can provide the next highest depression.

Supporting this idea is the exhibition band that is highlighted in gray on the fourth graph. It extends about $ 0.24 to $ 0.25 and corresponds to the February collapse base. In graph terms, the area works as the neck line for the dual cantonian cat references.

The decline in this support that has been fluctuating the previous resistance can satisfy both the Fibonacci rear test requirements and the re -insertion of Bolinger, while leaving the wider reflection structure. The analyst draws this path exactly on the graph: a decline in the gray area, followed by a renewed progress of about $ 0.30.

More importantly, none of these notes undermine the long -term shift in the market structure. The double tape was dissolved about $ 0.15 in July with a weekly candle that swept eleven weeks of the previous offer, indicating a change of control from sellers to buyers. The latest candles, despite the smallest, got every gain from this penetration. The analyst also summarizes: “In general, these bullish developments, even if they decrease early this week to reset some technologies.”

At the time of the press, Dog was traded at $ 0.277.

Distinctive image created with Dall.e, Chart from TradingView.com