Cryptocurrency analyst Cantonese Cat (@cantonmeow) released a weekly chart analysis of Dogecoin (DOGE) on October 27, pointing out that the current technical indicators show multiple positive signals. DOGE is oscillating around a spot price of approximately $0.208 on Binance, and he emphasized the following four key technical indicators as bullish evidence:
Four Key Factors for Bullish Dogecoin
Technical Structure Summary
DOGE has been oscillating within a wide range of $0.16 to $0.27 for the past few months. The current price is supported near the cycle high AVWAP and the 0.5 Fibonacci retracement level, while the Ichimoku 'Samurai Sword' structure also provides support, reinforcing the defensive strength at the lower end of the range. If it can maintain the current support with accompanying trading volume, the price is expected to test the upper end of the range again and even re-test the cycle high near $0.73995.
