In the past five days, Dogecoin (DOGE) has been building momentum in the range of $0.156-$0.165! After experiencing a sharp pullback earlier this month, the bulls have finally sounded the counterattack horn, strongly reclaiming the lost ground of $0.17! Market sentiment is undergoing a dramatic reversal, and an unprecedented surge may be about to explode!
The weekly chart has unexpectedly revealed a 'double bottom pattern'—the surge signal is 100% confirmed!
A double bottom pattern is forming on the weekly chart of Dogecoin, and this classic bullish structure suggests that DOGE may experience a significant trend reversal! If a breakout above $0.26 (neckline resistance) is confirmed, it could propel the price towards the target of $0.47. A similar double bottom pattern appeared in August and September 2024, followed by a substantial price rebound, and history may repeat itself.
Bearish forces are collapsing!
The ADX (Average Directional Index) shows that the downward trend is weakening, which may indicate a trend reversal, and the market scales are wildly tilting towards the bulls!
The RSI (Relative Strength Index) is currently slightly below 50 (neutral level), and once confirmed, buying pressure will surge like a tsunami, igniting DOGE's upward engine!
The MACD (Moving Average Convergence Divergence) has recently shown a slight golden cross, but we still need to observe whether the volume supports it.
Whales are crazily buying the dip! The ETF good news is about to explode the market!
Smart money is quietly positioning itself, and the potential approval of a Dogecoin spot ETF may become the last straw that breaks the bears' back! Once institutional funds enter the market, DOGE will completely shed its 'meme coin' label and officially ascend to a mainstream asset in the cryptocurrency market!
Dogecoin is currently in a critical consolidation phase, with technical indicators showing potential reversal signals, but we need to observe the breakout direction of the $0.164-$0.178 range. Market sentiment, ETF developments, and the movements of large holders will determine the subsequent trend. Traders need to closely monitor changes in RSI, MACD, and trading volume to confirm the trend.
