Dogecoin Requires $0.40 Breakout to Maintain Bullish Outlook

Dogecoin faces a critical juncture as it has experienced a six-month decline. Analyst VisionPulsed stated that Dogecoin must surpass the $0.40 mark within the next two weeks to avoid a bearish trend this summer.

VisionPulsed referenced Ethereum's momentum oscillator, which is currently showing two consecutive "blue bars," indicating potential significant market movements.
Historically, similar signals led to substantial price increases in the past.
Bitcoin's hash-ribbon metric suggests a pattern of selling followed by rallies, potentially benefiting Dogecoin if this pattern continues.
A 70-day timing model indicates that Dogecoin's major upswing typically occurs 60 to 80 days after a low, with June 14 marking a crucial date.
If Dogecoin fails to break $0.40, it risks further declines, possibly leading to eight months of losses out of nine.
VisionPulsed predicts bullish scenarios could lift Ethereum to around $3,200 and subsequently benefit Dogecoin.
Conversely, failure to rally could result in Ethereum dropping below $2,000, negatively impacting Dogecoin’s value.
Since January, Dogecoin has recorded five consecutive monthly losses, raising concerns about its performance in June.
The current market structure shows Bitcoin near cycle highs while Dogecoin remains significantly lower than its peak, suggesting potential leverage.
Upcoming daily closes will be vital in determining the direction of Dogecoin’s future movement.

At press time, DOGE was trading at $0.189.

Dogecoin price