Dogecoin is holding firm above major support at $0.22 despite repeated threats to break below in the just concluded week. Amidst these fluctuations, an interesting technical indicator suggests that Dogecoin’s long-term rally is still intact.
This technical indicator’s outlook was pointed out by crypto analyst Trader Tardigrade, who used the Gaussian Channel, a popular momentum tool, as evidence that Dogecoin’s bullish momentum is still in play despite the current selling pressures.
Gaussian Channel Shows Continued Bullish Strength For Dogecoin
Dogecoin’s price trajectory has been highlighted by a decline since mid-January. This decline has seen Dogecoin fall by as high as 47% from a lower high of $0.4159 on January 18. The price correction is even more pronounced when considering its multi-year high of $0.475, which it achieved on December 9, 2024, from which Dogecoin has now corrected by approximately 54%.
This notable correction has also seen the development of
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