The Dogecoin price is ready for a potential escape after having formed a rare diamond background on the daily graphic. According to the merchant of the Tardigrade technical analyst, the DOGE price structure shows a bullish overturning configuration which could send the price of the DOGE greater than 105% to $ 0.35.
These upward forecasts occur despite the price of Dogecoin down 1.5% on the last day and 3% last week. However, in the last 30 days, the bulls have had the upper hand with the price of 15%.
The Dogecoin Price Diamond Background Remove the Rally
Delay Tardigrade identified a diamond background pattern on the Daily Doge / USD graph. This model generally signals a bullish overthrow when it is formed after a sustained downward trend. Depending on the graph, the escape level is about $ 0.165 to $ 0.17.
This projection places the Doge price between $ 0.255 and $ 0.35. The graph also shows a dotted green arrow pointing to the level of $ 0.35, suggesting a more optimistic scenario for an extension in small groups.
Ali Charts, another crypto analyst, noted that the price of Dogecoin is Support test at $ 0.167. He said: “The holding of this level could trigger a rebound around $ 0.175 and potentially $ 0.183.” The two analysts agree that the maintenance of the area from 0.165 to 0.167 $ is essential for the bullish momentum to continue.
The Momentum Prices oscillator (PMO) also confirms a Haussier crossing, which can support new gains if the purchase volume increases. These indicators take care of the case for a possible rally if the current support is valid.
DOGE ETF approval can speed up the price of DOGECOIN
DOGE ETF speculation increases on the market, because several asset managers have requested approval. These include Bitwise, 21Shares, Graycale and Rex actions. They await authorization from the American Securities and Exchange (SEC) commission to launch the Dogecoin ETF. According to Polymarket, Doge Etf Approval ratings increased by 25%, analysts giving 63% chance that it can be approved by the end of 2025.
According to a Coingape report, if Dogecoin receives from 30% to 50% of Bitcoin ETF entries, the price could reach between $ 0.34 and $ 0.50. This scenario is based on approximately 12 to 20 billion dollars in the DOGE markets. The forecasts also provide that the total DOGE market capitalization could more than double within the framework of this model.
ETF approval, in the same vein, would probably lead to more institutional investors on its side, which further increases demand. This potential capital flow corresponds to the level of $ 0.35 represented in the technical indication. According to analysts, the news of approval can be considered as a potential trigger for the price rally and exceed DOGE beyond the barrier of $ 0.255.
The maintenance behavior shows the confidence of investors
New data from intotheblock suggest that feeling of investor Because Dogecoin improves. The average maintenance time for transociated coins has increased by more than 526% in the last 90 days. This behavior is similar to the trend observed before the 2021 bull race of Dogecoin.
Over the past seven days, the maintenance time has increased by four months. This passage from short -term speculation to long -term retention reduces the sales pressure. This also suggests that investors expect the price of DOGEs to increase soon. If this trend continues, it could support a more stable base for subsequent growth.
Long -term holders now dominate the volume of transactions, which often occurs before high upward price movements. The reduced market supply, combined with growing demand, is a positive signal.
Kelvin Munene Murithi
Kelvin is a distinguished writer with an expertise in crypto and finance, holder of a baccalaureate in actuarial science. Known for its incisive analysis and its insightful content, it has a strong mastery of English and excels in carrying out in-depth research and the dissemination of appropriate updates of the cryptocurrency market.
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
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