The historical pattern of DOGE/BTC suggests a bullish fourth quarter for Dogecoin. % of Dogecoin’s long accounts are in the 96th percentile.
Dogecoin (DOGE), the largest meme coin, gears up for the final quarter of the year as the overall crypto market recovers from the recent selloff caused by geopolitical tensions between Israel and Iran. are.
DOGE is expected to lead other meme coins in gains during this period. The historical pattern of the DOGE/BTC pair suggests that the market may be entering an interesting phase for Dogecoin.
In the past, DOGE pumps were initiated 235 days after Bitcoin halving, leading to two significant gains.
A similar pattern is emerging this year, raising questions about whether DOGE will be able to return more than 90% in this final quarter.
Source: Sanki/X
Recurring these patterns strongly suggests a bullish outlook for Dogecoin in the fourth quarter.
Dogecoin RSI Bounce
One of the key factors supporting this bullish outlook is the emergence of divergence signals indicating a possible trend reversal or continuation.
In this case, traders are expecting a reversal to bullish momentum for DOGE. This divergence occurred when Dogecoin traded below its 200-week moving average.
However, the Relative Strength Index (RSI) has rebounded from the oversold zone, indicating that now may be an ideal time to enter long positions, and DOGE is expected to remain on a similar trajectory to previous cycles. There is hope that we will see an increase (potentially over 90%).
Source: TradingView
Percentage of long accounts
Another key indicator of DOGE’s positive fourth quarter is its recent percentage of long accounts.
According to Hyblock data, the percentage of long accounts trading Dogecoin has remained stable over the past 24 hours, trading at the 96th percentile. This stability suggests that long traders are in control, reinforcing the bullish sentiment surrounding DOGE.
Source: Hyblock Capital
Additionally, a slight increase in the proportion of long accounts affected Dogecoin’s open interest, which saw a slight decrease. This decrease in open interest often indicates that short positions are exiting the market, further supporting the bullish outlook for Dogecoin.
Cloud vs. smart money sentiment
The sentiment of both big money traders and the general public is aligned, with both groups leaning towards a bullish outlook on DOGE. This sentiment further adds to the idea that Dogecoin will rise in the last quarter of this year.
However, like any other market, external factors such as geopolitical tensions can influence the direction of DOGE price movements. Recent tensions between Israel and Iran have had a noticeable impact on the entire crypto market, highlighting the unpredictable nature of financial markets.
Read Dogecoin (DOGE) Price Prediction 2024-2025
Source: Market Profit
Dogecoin appears poised for a significant rally in the fourth quarter, with historical patterns, technical indicators such as the RSI, and market sentiment all in line with a bullish trend.
Although external factors remain volatile, current settings suggest that DOGE could replicate past performance and return more than 90% by the end of the year.
Next: AVAX Whale Trading Surges 98%: Bull Run Coming In?
Source link
