DOGE Drops 11% Weekly, But Charts Hint a $1.80 Rally May Be Coming
Dogecoin (DOGE) is buying and selling at $0.159 after falling greater than 11% over the previous seven days. Despite current losses, merchants are waiting for indicators of a potential short-term reversal.
Several technical indicators present that draw back momentum could also be weakening.
Bullish Divergence Forms on Daily Chart
A possible bullish divergence has shaped on Dogecoin’s day by day chart. The value has continued to make decrease lows, whereas the Relative Strength Index (RSI) is exhibiting greater lows. This setup, shared by Trader Tardigrade, typically factors to a shift in momentum earlier than the value begins to get better.
“Dogecoin Bullish Divergence stays legitimate,” the analyst famous.
Notably, the divergence zone is highlighted on the chart, exhibiting the value falling whereas RSI developments upward. Traders are watching this sample to see if DOGE can stabilize and construct help for a transfer greater.
Meanwhile, DOGE is buying and selling close to the underside of its Bollinger Band vary on the weekly chart. The decrease band sits at $0.151, just under the present value. This stage has traditionally marked areas the place promoting stress slows down.
The Stochastic RSI can be in oversold territory. The %Ok line is at 5.10 and the %D line is at 9.68, each beneath the 20 threshold. The traces are starting to curve upward, which may recommend a potential bullish crossover if the transfer continues. This could be one of many first indicators of a potential value restoration.
Fractal Pattern Points to $1.80 Target
A chart shared by Bitcoinsensus outlines a repeating construction in DOGE’s long-term development. Previous rallies adopted a related setup — the value bouncing from a rising inexperienced trendline earlier than giant breakouts. The previous strikes returned 300% and 500%, and a third cycle seems to be forming now.
If the construction continues, DOGE might goal round $1.80, based mostly on the slope of earlier rallies. The crimson trendline marking earlier peaks intersects close to this space. The present sample matches earlier phases in each timing and construction.
Whale Activity and Market Context
On-chain knowledge shows that whale wallets accrued 4.72 billion DOGE, value about $770 million, over the past two weeks. This accumulation occurred in the course of the current decline, suggesting that enormous holders are positioning regardless of broader market weak spot.
At the identical time, merchants are watching for potential ETF-related information. There is theory that companies resembling Bitwise and Grayscale could quickly file for spot DOGE ETFs. Meanwhile, the meme-coin sector stays below stress, with the full crypto market cap slipping 2% in current days.
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