Dogecoin (DOGE) is demonstrating a notable resurgence, with its price climbing approximately 17% since the December 31 low. This upward movement is increasingly being interpreted not as a fleeting rebound, but as a significant shift in market dynamics. Leading crypto analyst Cantonese Cat highlights a fundamental change in DOGE’s trading behavior within its Bollinger Bands on the daily chart, signaling a potential regime change for the popular meme coin.
Daily Trend Analysis: Breaking Bearish Confinement
For months, Dogecoin’s price was largely confined to the lower half of its Bollinger Bands, indicative of sustained bearish pressure. However, recent movements show a decisive shift into the upper half of the band, a key early indicator of an impending trend rotation.
Cantonese Cat emphasizes that this change in character is readily apparent when observing DOGE’s interaction with the Bollinger Bands. The asset has transitioned from a prolonged period of leaning into the lower envelope to establishing a presence above the 20-day basis line.
- Current Position: DOGE recently closed around $0.1405, maintaining a position above the 20-day basis line, which is approximately $0.1348.
- Key Levels: The upper Bollinger Band is situated near $0.1564, while the lower band rests around $0.1132.
The 20-day basis line now serves
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