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Dogecoin (DOGE), appears to be on the verge of a significant price rally, with technical indicators signaling a bullish breakout. The Stock RSI indicator suggests momentum is shifting, resembling past breakout points that led to massive price surges. Analysts predict that DOGE could be gearing up for an explosive move upward, with a potential rally of 318% based on historical patterns and market dynamics. Recent price movements show DOGE trading around $0.16760 after pulling back from its recent high near $0.50. Historically, Dogecoin has experienced substantial gains following periods of accumulation, with past rallies reaching 88.29%, 187.46%, and 444.60%. According to analyst Ali Martinez, the Stock RSI indicator is nearing a bullish crossover, indicating that momentum is shifting in favor of buyers. If history repeats itself, DOGE could be on track for another significant breakout.. Market analyst JavonTM1 has pointed out that DOGE recently surged 129% after breaching a critical resistance trendline. He believes that the price could reach $0.6533, representing a potential 318% increase . The coin is currently in a position to confirm another set of higher lows, which could clear the path for further gains. The key resistance levels to watch include $0.24, which could serve as the first major hurdle before higher targets become achievable. Analysts applying Elliott Wave Theory suggest that Dogecoin is in the middle of a bullish impulse wave. Volume spikes indicate increased market participation, which strengthens the possibility of a sustained upward move. Related: Dogecoin ETF Filing Sparks Interest, but Prices Drop Over 12%—What’s Next? Additionally, a curved trendline suggests that DOGE has shifted from a prolonged correction phase into a breakout phase. This structural change in the price movement aligns with previous bullish cycles that resulted in exponential gains. As of press time, Dogecoin is priced at $0.1649 , with a 24-hour trading volume of $1.49 billion. The meme coin has declined by 1.55% in the past 24 hours and 18.39% over the past week. Despite this short-term dip, analysts remain optimistic about its long-term potential. The current market cap of $24.39 billion and a circulating supply of 150 billion DOGE further support the case for continued investor interest and liquidity. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Dogecoin is preparing for a strong rebound as key technical indicators signal a bullish shift as per analyst Ali. The Stock RSI nears a bullish crossover, hinting at a potential uptrend. Momentum is shifting, and historical price patterns suggest a significant movement. Dogecoin’s price history reveals notable surges followed by corrections. In late 2023, the price traded at a low before an 88.29% rally, reaching $0.05. After a brief consolidation, another 187.46% surge pushed it to $0.14901 in early 2024. A correction followed, with a 55.47% retracement before a massive 444.60% surge to $0.39547. However, a downturn followed this peak, leading to a correction phase. The stochastic oscillator, a key momentum indicator, tracks these shifts. During previous rallies, it reached overbought levels before corrections occurred. Currently, the oscillator trends downward, indicating a transition in market conditions. According to analyst Trader Tardigrade, Dogecoin has followed a structured macro channel since its inception. This pattern consists of support and resistance levels, with periodic deviations. The price returns to the channel after deviations, maintaining alignment with the long-term trend. From 2014 to 2017, Dogecoin fluctuated within the lower channel . A brief deviation in 2014 was followed by stabilization. In 2017, the price reached the mid-channel before consolidating. A significant breakout in 2021 exceeded the upper boundary, but a correction followed. Recent movements indicate a retest of the lower boundary. If Dogecoin maintains its position within the channel, a future breakout remains possible. The dotted line in technical projections suggests an upward trajectory, aligning with past movement patterns. Dogecoin’s long-term structure shows consistent behavior . The Stock RSI nearing a bullish crossover strengthens the case for a rebound. If the price stays within the macro channel, it could signal the next leg of a bullish run. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Ethereum reserves stored on crypto exchanges have seen massive declines, with over 600,000 ETH being withdrawn in the past week. Analyst Ali (@ali_charts) stated that CryptoQuant data showing a significant drop in Ethereum held on exchanges raises speculative questions on market sentiment and price direction. As of March 3, Ethereum’s exchange reserves were around 19.2 million ETH, but this figure saw a decrease of 600,000 ETH by March 9, thereby being reduced to a staggering 18.6 million ETH. This 3.1% reduction over 6 days indicates a rapid movement in terms of storage of an asset, signaling either accumulation by long-term holders or large players dynamically tuning their positions. Despite such a huge outflow of ETH from exchanges, Ethereum price struggled for strength in the immediate term. From being priced on March 3 at $2,147.62, it has dropped to $2,025.40 by March 9. Declining reserves typically indicate reduced selling pressure, but the price action suggests that greater market conditions are weighing down the asset. The fall to below $2,020 raises questions about the short-term outlook for Ethereum in an environment of tightening liquidity on exchanges. With fewer ETH on exchanges, traders are now checking to see if a supply squeeze might buck the trend. Historically, there have been many instances when a massive withdrawal of ETH from exchanges preceded bullish price behaviour owing to diminished selling pressure. In this instance, however, the recent price movement suggests buyers are either waiting for a great entry or have seen their conviction weakened by other events, probably macroeconomic. Notably, the most significant reserve drop was recorded on March 9, when increased volatility was seen, indicating the possibility of strategic repositioning among large holders. CryptoQuant data point to one of the lowest on-exchange supply levels for Ethereum in recent weeks, consistent with a wider market adoption trend for self-custody. Ali corroborates the withdrawal of 600,000 ETH with observations that investors seem to be moving towards long-term holding. This outlook, however, has led other players to speculate in online spaces about possible hacks or institutional repositioning. Near the $2,000 mark, traders look at whether this fall in exchange reserves leads to supply-forced price rise or whether macroeconomic pressures continue to weigh on its momentum. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin whales have moved majorly in the past 72 hours, adding more than 22,000 BTC to their accounts. In data from CryptoQuant, shared by analyst Ali (@ali_charts), the total balance of whale wallets saw a significant spike pushing the overall holdings to more than 3.42 million BTC. This large increase in accumulations came at a time when the price of Bitcoin rose rapidly approaching $98,000. With such a sudden gush of buying pressure, market participants are closely watching whether this signals a new rally or positioning by whales in preparation for a corrective move. The percentage change in whale holdings over 30 days went positive, signaling renewed buying after a length stretch of declines, which was the time accumulation by whale wallets was on a gradual decline in the month of February. However, this recent spree of buying flipped the situation around. This was also seen in the similar movement of the price of Bitcoin, which printed high from approximately $82,000, nearing $98,000. The black price line on the chart shows that this rally has strong tailwinds due to accumulation by whales, indicating some level of confidence in the long-term growth of the asset. Total balances of whale wallets, excluding exchange and mining pool addresses, stabilize at over 3.42 million BTC. The monthly percentage change shown in the purple shaded area portrays accumulation, which surpasses selling for the first time in weeks. Historically, such buying patterns lead to prices steeping upward due to reduced BTC supply in the market; hence, limits pressure from selling. Increasing whale demand suggests that these deep-pocket entities are gearing up for a possible breakout event that could send Bitcoin above current highs. With Bitcoin almost touching $98,000, traders are really weighing the market’s ability to hold this bullish run. The increase of almost 40% in whale holdings supports continued upward travel, but external market forces will play a big factor in determining momentum. Some are skeptical, as in the past these types of accumulation phases have preceded some short-term corrections. The selling pressure would be light, keeping us from making a deeper pullback as long as whales continue to transfer BTC onto their balance sheet. The next few days will tell us if this fallout leads to a breakout or if Bitcoin lingers close to its current levels. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Every bullish cross of the Stochastic RSI over the past 3 years has resulted in an increase in the BTC price, notes Ali. Bitcoin is currently very close to confirming the signal. ✔️ #BTC #Bitcoin