Crypto analyst Cryptollica has a bullish outlook for Dogecoinwhich outlines several reasons why the meme coin is “still in play.” This comes amid DOGE’s recapture of the psychological $0.10 level, with the top meme coin now targeting new highs.
Analyst Explains Why Dogecoin’s Outlook Is Still Bullish
In one X messageCryptollica urged market participants to put 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 noted that DOGE is currently at the 4th quantitative threshold Macrocyclea generational setup that completely ignores shoppers.
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The analyst then outlined two definitive statistics that prove a historic asymmetry for Dogecoin is imminent. The first are the multi-year structural stepping stones, with Cryptollica pointing to the horizontal green bands on its companion map. He noted that the DOGE price action is currently in the “4 NOW” zone, perfectly compressed on the fragile rock and a new institutional accumulation phase.
The second final metric the analyst mentioned is the Terminal Momentum Reset Dogecoin’s RSI currently around 31. He noted that pricing on structural support is insufficient without confirmation of momentum. Instead, the focus is on the bottom panel, with the 1-week oscillator violently returning to the exact absolute red baseline that ignited all previous megamacro runs for the meme coin. “The downward kinetic seller momentum has been quantitatively exhausted,” Cryptollica added.
Finally, he said that the Dogecoin price is resting on a multi-year structural bottom. At the same time, kinetic momentum reaching an all-time 10-year low would create a rare “systemic alignment.” The analyst said professional portfolio managers are looking to allocate capital especially under these current market conditions.
DOGE has completed a full stochastic cycle
In one X messagecrypto analyst Trader Tardigrade revealed that Dogecoin has completed a full stochastic cycle on the 4-hour chart. The meme coin has risen from an oversold level and is now back at that level. The analyst told market participants to pay attention to a withdrawal or consolidation and then look for a bounce to send it higher. He added that the current situation is bullish, indicating that a sustained rally may be in store.
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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 higher likely to come soon.
At the time of writing, the Dogecoin price is trading around $0.10, up in the past 24 hours, according to facts from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com