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Crypto Analyst Predicts Imminent Dogecoin Bull Run Based on Fractal
Crypto analyst Cryptollica suggests a bullish outlook for Dogecoin based on a cycle fractal analysis indicating an imminent bull run.
Key Insights
- Cryptollica's analysis points to Dogecoin being at the start of a bull run, potentially rallying above $1.
- The cycle fractal chart highlights four structural points with Dogecoin currently at Point 4, aligning with previous pre-bull run phases.
- 'Rounding Bottoms' are identified in Zones 1 and 2, periods of low volatility and accumulation by smart money.
- Zone 2 historically acted as a launchpad for significant price increases, while Zone 4 mirrors previous rounding bottom formations.
- Dogecoin's Relative Strength Index (RSI) is near its historical floor of 32, signaling potential momentum shift from sellers to buyers.
Current Market Position
- Dogecoin is considered within a "Golden Pocket" ripe for accumulation, suggesting a cyclical reset akin to 2020 patterns.
- Technical indicators highlight a forming bullish rounding bottom and oversold RSI levels, pointing to a possible upcoming impulsive move.
As of now, Dogecoin trades around $0.127 with a 3% decline over the past 24 hours according to CoinMarketCap data.