• Dogecoin is entering its third parabolic phase, with a maturing market structure.
• The coin remains in a healthy consolidation zone between $0.18 and $0.22.
• Holding above $0.18 could pave the way for a strong move toward $0.30.

Dogecoin is again drawing attention as market watchers note similarities between its current setup and previous parabolic runs. 

Crypto market observer ETHER NASYONAL pointed out that DOGE has completed all its major accumulation phases with sharp rallies in the past.

The ongoing cycle, he said, has yet to witness that explosive stage, a sign that a strong uptrend could be forming.

DOGE is currently priced at $0.1993, reflecting a 2.73% drop over the week. Despite this, its long-term trend remains intact. The token’s structure indicates steady consolidation, which often acts as a foundation for major price swings.

After rallying above $0.45 earlier this year, Dogecoin has settled within a stable range, hinting at a maturing phase before potential expansion.

Also Read: Dogecoin Price Prediction: DOGE Could Hit $7.20 Resistance in Next Bull Run

Key Levels Signal Crucial Turning Point

The chart below shows that DOGE is trading below both the 20 and 50 EMAs at $0.2197 and $0.2134 levels, respectively. But it’s trading above both the 100 and 200 EMAs at $0.1907 and $0.1564 levels, respectively.

The area of immediate resistance is seen between 0.208 and 0.215 levels, which corresponds to both the 20 and 50 EMAs. Breaking above these levels may trigger a subsequent move towards 0.229 levels and further on to 0.297 levels.

The support levels on the chart remain at 0.184 levels. The major base remains around 0.156 levels.

If DOGE cannot recover the $0.215 level, a brief correction may emerge towards $0.18. But sustained trading above that level would signify extensive accumulation by the long-term holders.

Dogecoin Signals Quiet Strength as Volatility Tightens

Volatility tightens as it approaches the narrowing of the Bollinger Bands. This usually happens before strong directional actions take place.

The Relative Strength Index shows a weak bullish divergence from the low levels. This indicates a hidden buying force present around the $0.18-$0.19 levels.

The MACD chart is also on the verge of a positive crossover, as it sees the blue line above the signal line. The minor movement suggests that a positive momentum change may be forthcoming.

Overall, it appears that Dogecoin’s overall market dynamic indicates that it’s quietly lining up for an additional parabolic cycle to begin.

As long as it holds support at $0.18 levels, it stands a chance of reaching $0.27-$0.30 levels. This will be an important milestone in Dogecoin’s return to strong positive levels.

Also Read: Dogecoin Breakout Setup Hints at an Explosive $0.25 Surge Ahead