- Dogecoin holds the 20-month moving average and enters the Ichimoku cloud, forming a cup and handle structure with Fibonacci retracement support.
- Weekly chart shows strong support at the 20-week moving average, with a double bottom and breakout zone backtest confirming bullish technical strength.
- Fibonacci targets indicate possible levels at $1.50, $2.27, and close to $4, with $0.41 and $0.54 as immediate breakout points.
Dogecoin technical analysis by Cantonese Cat shows multiple bullish patterns aligning across different time frames. His review highlights Fibonacci retracements, Ichimoku signals, and key moving averages that may guide the price toward higher levels in the months ahead.
Monthly Chart Builds Bullish Structure
On the monthly chart, Cantonese Cat emphasizes the role of the 20-month moving average as a strong base for Dogecoin. Previous bounces from this level have supported extended upward trends, giving weight to the current market setup.
He points out that Dogecoin has entered the Ichimoku cloud, which he views as a constructive sign for future momentum. A cup and handle structure has also formed, with a retracement to the .382 Fibonacci level confirming what he considers a healthy pullback.
According to his analysis, Dogecoin’s pattern of “three steps forward, two steps back” reflects a more sustainable cycle. He contrasts this with earlier movements that lacked higher highs and higher lows, describing the current structure as stronger.
Weekly Signals Show Breakout Potential
On the weekly chart, Dogecoin continues to hold its 20-week moving average as reliable support. Cantonese Cat also notes that the bonus support band remains intact, giving additional confirmation of underlying strength.
He identifies a double bottom structure, reinforced by a backtest of the breakout zone, which often precedes extended upward moves. These signals together suggest that the coin may be preparing for another phase of acceleration.
The weekly Ichimoku chart adds to the bullish case, with Dogecoin holding the baseline firmly. According to Cantonese Cat, this stability increases the probability of a breakout in the near term, possibly setting the stage for higher price zones.
Short-Term Charts and Fibonacci Targets
In shorter time frames, Cantonese Cat highlights a bullish band squeeze pattern, which usually indicates upcoming expansion in volatility. He also stresses that the 20-period moving average has been reclaimed across multiple charts, reinforcing bullish momentum.
Still, he acknowledges slight overextension on the 12-hour chart, warning of possible stalls before continuation. Yet, he maintains that the overall direction remains upward, supported by consistent higher lows on each retracement.
For future targets, he looks at Fibonacci projections that place Dogecoin at $1.50, $2.27, and potentially close to $4. However, he advises focusing on breaking above $0.41 and $0.54 first. Cantonese Cat also discloses steady accumulation during pullbacks, signaling confidence in the long-term trajectory.
