Journalist
Posted:
- The activity of the Doge whales remained flat last week, without the major purchase or sale pressure.
- Doge pressed itself in a symmetrical triangle like the RSI and PMO indicate a potential overvoltage on the horizon.
The activity of the Dogecoin whales (DOGE) has stagnated, now an average of 24.35 billion DOGE, indicating a lack of purchase or significant sale pressure from the main holders of last week.
This suggests an expected approach among the main actors.
During this period, the Doge price has slightly fluctuated, diving as low as approximately $ 0.255 and reaching around $ 0.288, reflecting the minimum volatility of the market.
The flat activity presents various scenarios for the future of Doge. On the one hand, it could indeed be “calm before the storm”, where the whales accumulate silently before making a more significant movement, potentially leading to Doge if a wave of purchase follows.
Source: Ali / X
Conversely, flat activity could arouse a decrease in interest among major holders. These holders could maintain their positions or out slowly, perhaps anticipate a continuous decline.
The lack of aggressive whale movements could cause a sudden change in price if the external market factors come into play, or if collective whale actions end up looking towards mass purchase or sale.
What awaits us for the action of DOGE prices?
Analysis of the current behavior of Dogecoin prices on a 4 -hour graph reveals compression in a symmetrical triangle model. This model often indicates a consolidation phase preceding a significant price escape.
The key resistance and the support levels are convergent, which indicates that volatility is likely to increase as the price approaches the triangle apex. The RSI supports this view, showing an upward trend in the neutral zone, pointing towards the increase in the bullish momentum.
Source: Trader Tardigrade / X
As a general rule, if the RSI continues to increase and remains above level 50, it suggests that the purchase of pressure increases, potentially leading to a rupture above the triangle.
In addition, the prices momentum oscillator (PMO) indicates an increase in the bullish momentum, showing a positive slope which suggests that the pace of Dogecoin price changes accelerates.
This acceleration, combined with the tightening price model like the symmetrical triangle, often precedes upward price movements.
Source: Trader Tardigrade / X
If these bruise signals lead to an escape above the triangle, Dogecoin could see significant gains, potentially testing higher resistance levels at $ 0.50, $ 0.75 and finally $ 1.
Conversely, if the momentum vacillates or the PMO and the RSI run down, Doge could break below the triangle, causing a sale.
