Dogecoin Shows Bullish Signals with Cycle-High VWAP and Low Volume
Dogecoin's weekly chart indicates several bullish technical signals:
- Price is near $0.208 on Binance.
- Four independent checks support a potential uptrend: anchored VWAP, Ichimoku “Katana” support, 0.5 log-scale Fibonacci hold, and low sell-side volume during recent declines.
- The cycle-high AVWAP is acting as potential support, with DOGE attempting to reclaim it after a recent failed breakdown.
- The Ichimoku framework shows Tenkan-sen and Kijun-sen fused around ~$0.2009, acting as support.
- Fibonacci analysis highlights the 0.5 retracement at $0.19070 as a critical support level; failure to hold may lead to testing lower levels like $0.13847.
- Volume trends show declining activity during selloffs, indicating possible corrective behavior rather than distribution.
Current price action suggests that maintaining support levels could lead to revisiting mid-$0.20s, while losing them may result in further downside pressure.
At press time, Dogecoin traded at $0.206.
