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The weekly Dogecoin structure is once again a conversation about crypto-twitter after the nicknamed technician of the cantonian cat (@cantonmeow) published Fibonacci logarithmic road map for the fourth cycle of the Meme-Coin bull. The chart, built on TradingView and made available on July 13, anchor the entire range 2021–2022 and designs both horizontal slimming levels and FIB channels, offering a detailed set of goals.
Dogecoin up to $ 23?
During the Friday nearby, the dog changed her hands near $ 0.20, almost exactly in relation to the 0.5 retration line, highlighted on the graphics for 0.19049 USD. The overlay shows the squeezing of prices in a three -year growing channel, the lower rail of which provided support from the surrender of June 2022. Variability disappears in this corridor, shaping the expanding wedge, which until now respected every diagonal from the golden -printed alloy on the chart.
The cantonian cat grid begins with the cycle floor – FIB 0 at 0.04909 USD – and climbs through a dense intermediate resistance cluster: 0.618 at 0.26232 USD, 0.707 at approximately 0.33 USD, 0.786 at 0.41368 and 0.886 USD at 0.54253 USD. Line 1.0-Makro-Togeko-Diecoin from May 2021-is set at 0.73905 USD and is the upper limit of what the analyst calls the “first wall of liquidity”.
Above it, blue extensions go far beyond the previous extremes of the cycle: USD 1,272 each USD 1,54518, USD 1.414 to USD 2,27089 and USD 1.618 at USD 3,94842 USD. Super-cycl forecasts appear at 2.0 (USD 11,12397), and the extension of 2.272 header after $ 23,25744-they rearrange independent stress, unless it does not affect unprecedented fluidity. “
Golden channels operating diagonally all over the canvas explain the same coefficients for active support and resistance corrected in time. Internal rails marked 0.236 and 0.382 have repeatedly narrow compact rallies since mid -2022, while 0.5 diagonal currently works as a point of inflection below the spot price.
The current weekly candle will investigate that the friend from above, reflecting the separate view of the analyst that the dog is “still below Tenkan” and “probably closes a week about 20 cents, and then fights with the next day, to later squeeze the resistance. I do not think that we will pass by this level.”
The long -term background that maintains a constructive cat strategist is evident on a two -month chart. There, Doge printed what a friend technician @manehattanstonk defines the formation “rising thing three methods” – a stubborn pattern of continuation, which notes of Cantonian cat “Game next to XLM”.
It seems that the dynamics of the volume supports the thesis: in another post the analyst calls the latest sales “pathetic” and claims: “Who sells dog? Nobody is important. Sell a pathetic volume. Everything you need is just a bit of volume to enter, and this thing pumps on the moon.”
Whether this pump can realistically achieve an extension of 2.272-and thus loaded with memes 23 USD-is a question that caused a thread. The answer of the canton cat is blunt: “I don’t think it will amount to $ 23 in this cycle.” The commentary emphasizes his wider point that Fibonacci projections, although mathematically neat, are ultimately hostages of liquidity conditions that no one can forecast.
The 3,94 USD region – marked by the extension of Fibonacci 1.618 – is a reliable additional goal. The Kevin analyst notes that in every previous cycle of the Dogecoin bull he finally advanced to the same extension.
During the press, the dog traded for USD 0.20575.
A distinguished painting created from Dall.e, chart from tradingview.com
