Dogecoin is signaling an imminent capital rotation toward alternative cryptocurrencies. Analysts highlight that the memecoin is replicating a historic breakout pattern, characterized by long consolidation phases followed by parabolic explosions, similar to previous cycles where the asset recorded four and five-digit gains.
The current landscape shows accumulated bullish pressure following three consecutive tests of a descending trendline on weekly charts. The impact of this movement is reflected in lower timeframes, where the price has jumped from $0.12 to $0.15 with a rising RSI, suggesting that investors are actively positioning themselves rather than distributing their assets.
If the trend consolidates, traders project initial technical targets between $0.65 and $1.25. The success of this move will depend on the market’s ability to absorb supply at these levels to confirm that Dogecoin will, once again, lead the start of the highly anticipated “altcoin season.”
Source:https://x.com/TATrader_Alan/status/2008217250659242323
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