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.