Dogecoin Price Prediction: Bulls Crush Bears in Surprise Move – Is This a Repeat of the 2021 Setup?
After months of bearishness, a sharp 11,900% liquidation imbalance might have simply reset the market, placing bullish Dogecoin price predictions on a stronger footing.
Of the $4.96 million in early Tuesday afternoon liquidations, roughly $4.92 million got here from longs whereas shorts misplaced round $42,000 as merchants chased a continuation.
The meme coin dipped to round $0.1495 earlier than rebounding above $0.15, a transfer that tempted merchants to pile into leveraged longs anticipating a stronger continuation.
When the value stalled as a substitute of breaking larger, these overextended positions had been shortly flushed out.
This leverage reset cleared extra hypothesis from the market and should now open the door for spot consumers and stronger fingers to regain management.
Despite the volatility, bulls managed to defend the $0.15 degree, whereas bears did not push DOGE again under the $0.145 zone.
The setup reveals early-stage similarities to the construction seen final market cycle. In the build-up to the 2021 bull run, a leverage flush marked the finish of extended consolidation earlier than momentum returned and value entered a broader development continuation part.
Dogecoin Price Prediction: How the Bears Crushed the Bulls
This energy has put a potential year-long descending triangle sample again in play, probably ruling out a latest breakdown of its decrease help as a false flag.
Momentum indicators help the transfer, returning to pre-market-crash ranges. The RSI has damaged into bullish territory, peaking at 65, a degree unseen since September.
The MACD reads a lot the identical, constructing a vast lead above the sign line after months of weak motion.
The key breakout threshold sits round $0.225, with interim help round $0.185 as the instant degree to look at for a rejection.
A clear triangle breakout units up a measured transfer of roughly 310% to previous highs round $0.50, and a absolutely realised goal of $1 for a potoentail 710% achieve.
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