Crypto analyst Cryptollica has provided a bullish outlook for Dogecoin, outlining several reasons why the meme coin is ‘still in the game.’ This comes amid DOGE’s reclaim of the psychological $0.10 level, with the foremost meme coin now targeting new highs.
Analyst Explains Why Dogecoin’s Outlook Is Still Bullish
In an X post, Cryptollica urged market participants to set aside the meme coin noise and short-term market narratives. The analyst argued that Dogecoin possesses one of the “most flawless and mechanical macroeconomic cycles in the entire crypto ecosystem.” He further remarked that DOGE is currently at the quantitative threshold of the 4th Macro Cycle, a generational setup that the retail crowd is completely ignoring.
Related Reading
The analyst went on to outline two definitive metrics that prove a historical asymmetry is imminent for Dogecoin. First is the multi-year structural stepping stones, with Cryptollica pointing to the horizontal green bands on his accompanying chart. He noted that DOGE price action is currently in the “4 NOW” zone, compressing perfectly onto the breakable bedrock and establishing a new institutional accumulation phase.
The second definitive metric that the analyst mentioned is the Terminal Momentum Reset, with Dogecoin’s RSI currently at around 31. He noted that the price sitting at structural support is insufficient without momentum confirmation. Instead, the focus is on the lower panel, with the 1-week oscillator violently retracing to the exact absolute red baseline that ignited all previous mega macro runs for the meme coin. “Downward kinetic seller momentum is quantitatively exhausted,” Cryptollica added.
Lastly, he mentioned that the Dogecoin price is resting on a multi-year structural floor. At the same time, the kinetic momentum striking a 10-year historical bottom is said to create a rare “systemic alignment.” The analyst said that it is exactly under these current market conditions that professional portfolio managers look to allocate capital.
DOGE Has Completed A Full Stochastic Cycle
In an X post, crypto analyst Trader Tardigrade revealed that Dogecoin has completed a full Stochastic cycle on the 4-hour chart. The meme coin has trended up from an oversold level and is now back at that level. The analyst told market participants to watch for a pullback or consolidation and then look for a bounce to send it higher. He added that the current setup is bullish, signaling that a sustained rally may be on the horizon.
Related Reading
Meanwhile, crypto analyst Ari pointed to a descending channel on the Dogecoin chart, noting that pressure was currently building. He stated that the current breakout targets for DOGE are $0.116, $0.153, $0.206, and $0.280. The analyst added that this is a “squeeze setup” with a move to the upside likely to come fast.
At the time of writing, the Dogecoin price is trading at around $0.10, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
Credit: Source link