The DOGE price ended yesterday’s trading session with a staggering 7% gain. The closing price was also the daily high, showing the bullish nature of the session.
DOGE ready to move towards $0.27
DOGE played on Tenkan-Sen and Kijun-Sen daily. This is the first time price has closed above these two Ichimoku levels since Nov. 8. Such an event is often a warning sign to short traders that the current correction is likely to end soon.
From a cycle time perspective, price has completed a “cycle of death” in Gann analysis. This is a 49- to 52-day cycle that Gann warns could reverse any trend persisting in one direction during that 7-week cycle.
Another time cycle that triggered the recent move in DOGE price is the Ichimoku Kumo Twist time cycle. Kumo Twists occur when Cloud goes from green to red or from red to blue – when Future Senkou Span A cuts above/below Future Senkou Span B.
Kumo Twists are time cycles in the Ichimoku system that alert traders to the possibility of highs or lows developing on or near the Kumo Twist day, especially if an instrument is trending strongly as it reaches the Kumo Twist day. Coincidentally, the DOGE price spike on 12/13 is exactly the day of the Kumo Twist.
From a cycle time perspective, DOGE is perfectly positioned for a new phase of expansion, despite the current decline in the Ichimoku Kinko Hyo system. Expected target area at $0.27 – is the 161.8% Fib extension and is valued near the strongest level in the Ichimoku Kinko Hyo, Senkou Span B system at $0.26.
DOGE Daily Ichimoku Chart
The bullish outlook for DOGE will be invalidated if the meme-coin makes a new lower low near the $0.145 area. That will likely trigger a mass capitulation, pushing the price down to $0.09.
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