Dogecoin Risks Six Red Months Without June Upsurge, Analyst Warns
Dogecoin is nearing a critical juncture, according to analyst VisionPulsed. He asserts that a positive movement within the next two weeks is essential; otherwise, it may experience a series of monthly declines indicative of bear market conditions.
Dogecoin Faces Potential Decline
Key points from VisionPulsed's analysis include:
- Upcoming volatility is anticipated in June, with potential for significant price movement.
- The Bollinger Band Width Percentile (BBWP) indicates a historical pattern of price expansion approaching.
- A newly triggered hash-ribbon buy signal suggests possible recovery post-miner capitulation.
- Stock-RSI on the two-day chart has declined for the first time since last year, posing risks to bullish scenarios.
- Timing is crucial, with a 70-to-80-day cycle indicating mid-June as a pivotal moment.
- Failure to rally could lead to a bearish trend extending into the summer months.
- Equity market movements may influence crypto sentiment significantly.
Traders face a binary outcome: a breakout could validate the bullish signals, while failure may entrench bearish conditions. At press time, DOGE traded at $0.1958.
