Is Dogecoin (DOGE) Entering a Bullish Accumulation Phase?

TLDR: 

• DOGE weekly chart shows a four-point fractal mirroring past accumulation zones.
• Current rounding bottom resembles pre-bull run formations seen in 2021.
• Weekly RSI near 32 suggests sellers are exhausted, priming momentum to flip.
• DOGE’s current price action aligns with historical “Golden Pocket” accumulation zones.

Dogecoin (DOGE) appears to be forming a bullish cycle fractal, suggesting a repeating market pattern similar to past accumulation phases. 

Technical analysis indicates that the cryptocurrency is currently at a stage that historically preceded major upward price movements. 

Market participants are observing this structure closely for potential buying opportunities.

Technical Structure Signals Rounding Bottom Formation

According to Cryptollica, the DOGE weekly chart reveals a fractal setup with four structural points. Points 1 and 2 represented earlier accumulation zones with low volatility, where smart money entered the market. 

These phases laid the foundation for DOGE’s notable 2021 parabolic run. The current activity corresponds to Point 4, showing a similar rounding bottom.

The rounding bottom formation at Point 4 reflects price stabilization and gradual accumulation. 

Historical patterns suggest such formations typically occur before significant upward movements. Analysts note that the current structure mirrors previous macro bottoms.

RSI analysis offers further insight into the market setup. The weekly Relative Strength Index recently hovered around the 32 level, which has historically acted as a macro bottom. 

At Points 1, 2, and 3, this RSI level coincided with market reversals. Current RSI readings suggest that selling pressure may be exhausted, and momentum could shift upward.

Market Observation and Potential Accumulation Zone

Cryptollica highlighted that the current DOGE structure may represent a “Golden Pocket” for accumulation. 

The fractal setup closely resembles pre-bull run conditions, indicating the current stability could precede upward movement. Traders and analysts are tracking these levels for potential strategic entry points.

DOGE’s repeating cyclical behavior strengthens this observation. Price action at Point 4 mirrors earlier accumulation zones, providing a framework for evaluating potential market cycles. 

Historical cycles suggest these patterns are reliable indicators of upcoming price behavior.

Current trading activity also supports technical observations. According to data from Coingecko, Dogecoin has shown steady weekly gains of 3.86% alongside a 24-hour increase of 4.07%, indicating growing market interest. 

Analysts emphasize that patience is key while the setup prepares for a potential bullish phase.