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This article is also available in Spanish.
Cantonese Cantonese cryptographic analyst (@cantonmeow) is describing the weekly Dogecoin/ USD graphic as a technical beauty due to multiple indicators that are aligned at the same time. In the last picture shared In X, several key features are highlighted, including a long -term diagonal trend line, converging simple mobile averages (SMA) of 100 weeks and 200 weeks and a remarkable configuration of ichimoku clouds. “I have not seen something so beautiful with such confluence for a while,” says the analyst.
Why Dogecoin looks ‘beautiful’ bullish
A line of diagonal tendency of dominant descending slope, extracted from the historic Dogecoin 2021 peak of approximately $ 0.70, establishes the tone for the structure of the table. Since the meteoric ascent of Dogecoin and the subsequent fall in 2021, the weekly candles have constantly responded to this diagonal, which has acted as a barrier to upward advances and occasionally served as a place for price consolidation.
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In November last year, Dege broke over the line of trends. However, in the last four weeks, Dogecoin once again has been reduced down in proximity to this line that defines the trend. The current Dogecoin review to the trend line represents a new test of the previous break; A successful defense at this level would confirm the new test, a scenario widely considered as highly optimistic from a technical analysis perspective.
Another focal point is the relationship between the simple mobile average of 100 weeks (SMA) and the 200 -week SMA. In the table shared by the Cantonese cat, the 100 -week SMA is drawn in blue, while the 200 -week SMA is represented in black. The 100 -week SMA is currently around $ 0.1456, while the 200 -week SMA is at $ 0.1412.
In particular, the recent crossing of the SMA of 100 weeks above the 200 -week SMA has formed a “golden cross” upward, a technical event typically interpreted as a strong positive sign for the impulse of prices from a technical analysis perspective.
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The painting also incorporates a cloud of Ichimoku, which further intensifies convergence. Ichimoku’s weekly configuration (commonly using parameters 9, 26, 52, 26) shows a convergence with weekly SMA around $ 0.14. At present, the price of Dogecoin has approached the upper limit of that cloud and stayed above it.
If the price were to maintain a closure above the cloud, it would strengthen the case for a bullish continuation. In particular, the perspective of the future cloud is also optimistic. The main sections (projected forward) around $ 0.24 to $ 0.28 suggest a wide area that could limit upward movements or act as a magnet, if buyers keep the conviction.
The Cantonese cat refers to this situation as “beautiful” precisely due to the superimposed importance of these 4 indicators. If Dogecoin remains above the critical support level NER $ 0.145 for consecutive weekly closures, the probability of a sustained upward trend can increase considerably.
At the time of publication, Dege quoted at $ 0.17417.
Outstanding image created with Dall.E, Record of TrainingView.com
