Fibonacci Doesn't Lie: Dogecoin Prepares for a Historic Price Rise?

robot
Abstract generation in progress

Dogecoin has shown consistent bullish behavior, bouncing off the Fibonacci retracement zone of 0.382–0.5 in recent price movements. Meanwhile, breakout patterns from descending channels on the weekly chart align with these bullish reactions, indicating a strong rise to the sky. Fibonacci Zones Are Areas of Strong Demand

As we can see from the post above, optimistic analyst Trader Tardigrade detailed Dogecoin's respect for key Fibonacci retracement levels. According to Tardigrade, Dogecoin has retraced to the 0.382–0.5 zone during three major corrections, triggering bullish moves. These zones continuously act as strong demand zones, allowing for the formation of higher highs and lower lows. The first pullback occurred between $0.14844 (0.382) and $0.14564 (0.5) after an impulsive move from $0.13001 to $0.16089. The analyst also pointed out that Dogecoin had strongly recovered from this zone, forming a new high. The second correction followed a bullish move up to $0.19305, with the pullback declining between $0.18061 and $0.17031, again leading to a higher local peak. The most recent pullback occurred after the peak of $0.25952, returning to the zone between $0.21973 and $0.20648. The analyst notes that the Heikin Ashi candles show minimum wicks during these breakouts, indicating strong trend behavior. Each Fibonacci zone consistently aligns with visible buying pressure, confirming them as periodic accumulation points. Downtrend Channel and Breakthrough Cycle In addition to the Fibonacci retracement levels, Trader Tardigrade has also analyzed the breakout patterns of Dogecoin from descending channels over the past two years. This analysis reveals three distinct channels on the weekly chart, each followed by significant bullish moves.

The first channel runs from July to November 2023, with Dogecoin exploding and bullish at the beginning of 2024. The second channel occurs from January to April 2024, leading to a rise to the sky peak near $0.22. The most recent channel lasts from October 2024 to April 2025, reaching a peak with an explosion up to $0.90 in May 2025. The analyst notes that every breakthrough follows prolonged weekly candle decline stages, compressing price before a strong rise. The levels of increase after the breakthrough continuously create step-like growth patterns, with each surge being more significant than the previous one in scale. The breakout in May 2025 represents the strongest vertical acceleration, reinforcing the bullish cyclical structure of Dogecoin. Tardigrade emphasizes the importance of maintaining support near $0.20648 to sustain the current bullish trend. His insights highlight Dogecoin's adherence to technical structures, providing opportunities for traders to leverage recurring patterns. By respecting Fibonacci retracement zones and maintaining effective breakthroughs, Dogecoin continues to demonstrate a solid technical foundation for sustainable growth.

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments