Dogecoin's two-day candlestick chart mirrors the accumulation pattern preceding last autumn's five-fold surge. According to market technician Astronomer (@astronomer_zero), the pattern "looks bottomed -- early call, and I'm long."
The chart indicates successive price wicks into a demand band between $0.12 and just under $0.15000. Every test of this floor has been absorbed, resulting in higher two-day closes.
A decisive reclaim is marked at $0.18210. The analyst suggests a long position with invalidation just under $0.12982, targeting a $0.40000-0.48527 liquidity void. This setup mirrors October 2024, when DOGE rose from $0.10 to $0.48527 in eight weeks.
The projection anticipates sideways movement inside the grey band capping at roughly $0.175, followed by an advance into the low-$0.30s and an autumn test of the December pivot.
Confirmation hinges on market action. A two-day close above $0.20000 would signal a reversal and expose $0.30 liquidity. Conversely, settling below $0.12982 would invalidate the setup, potentially revisiting the 10-cent level.
Astronomer's analysis relies on Bitcoin bottoming first, followed by Ethereum, and then alts like Dogecoin bottoming out based on cyclical timing and sentiment.
This article is based on our author's analysis of materials taken from the following resources: X (Twitter).