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Dogecoin (DOGE) is attracting attention from traders and analysts as technical indicators across multiple timeframes suggest a strong bullish trend may be forming. Popular crypto chartist Cantonese Cat (@cantonmeow) recently shared a detailed analysis, indicating that Dogecoin could be entering its third major cycle.
According to the analyst, the asset is building a structurally sound base, with higher highs and higher lows forming across daily, weekly, and monthly charts. “I’m extremely bullish on Dogecoin. The current advance looks a lot healthier than the last cycle,” he stated, highlighting the disciplined nature of the recent price movements.
Technical Setups Support Upside Potential
Cantonese Cat emphasizes several key technical factors that could propel Dogecoin higher:
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20-Month Moving Average: On the monthly chart, DOGE is holding the 20-month moving average, which historically acts as a pivot between resistance and support. This suggests a strong foundation for upward movement.
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Ichimoku Cloud Re-Entry: The coin has quietly re-entered the Ichimoku Cloud through consolidation rather than a sharp spike. This methodical approach is often viewed as a healthier sign of bullish momentum.
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Cup-and-Handle Formation: Structurally, the chart shows a base-building sequence resembling a “cup with a handle,” with Fibonacci retracement levels confirming orderly mid-cycle digestion.
The combination of these factors points to a controlled, trend-consistent rally rather than a speculative spike, suggesting sustainable upward momentum if key resistance levels are cleared.
Weekly and Daily Indicators Align
On the weekly timeframe, DOGE shows support at the confluence of the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). Cantonese Cat notes that this “support band” now acts as a floor rather than a ceiling, further reinforcing bullish prospects.
Meanwhile, the Ichimoku baseline has held around $0.20 for an extended period, and the 20-week SMA is beginning to curl upward. This combination of support levels and momentum indicators signals a tilt in favor of buyers. A double bottom and successful back-test of the breakout zone suggest that a larger rally could be imminent.
Fibonacci Levels Provide Price Targets
The analyst outlined potential price milestones using Fibonacci extensions from the previous cycle. Key targets include:
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$1.50: Corresponding to the 1.272 Fibonacci extension.
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$2.27: Matching the 1.414 extension.
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$4.00: Near the 1.618 extension, contingent on clearing retracement bands.
He stressed the path-dependency of these levels. DOGE must first overcome deep retracement zones, including the 0.786 and 0.86 bands, as well as intermediate resistance levels at $0.41 and $0.54. Only then would higher targets become realistic.
Multi-Time-Frame Analysis Adds Confidence
Cantonese Cat points out that DOGE has reclaimed the 20-period moving average across multiple charts, from daily to monthly. This alignment across timeframes adds confidence to the bullish thesis. While an “impulsive move” temporarily pushed price outside the 12-hour bullish band, it has not invalidated the overall trend.
The analyst advises patience, noting that precise timing of the rally is uncertain. Instead, he recommends systematic accumulation, buying successive higher lows as the market provides opportunities. “The market seems to keep giving me these higher lows to buy Doge at. I’m not going to say no to it,” he explained.
Healthy Bullish Momentum
Compared to the last cycle, this advance appears more measured and sustainable. Higher highs and higher lows, coupled with cloud re-entry via drift rather than a spike, indicate a robust trend foundation. These technical confirmations suggest that Dogecoin’s bullish potential remains intact until key resistance levels are decisively challenged.
At press time, DOGE traded at $0.231, leaving ample room for potential upside if bullish momentum continues. Traders and investors will be closely monitoring the retracement bands, moving averages, and Fibonacci levels to gauge the next phase of the rally.
Conclusion
Dogecoin’s technical setup points to the possibility of a major rally in the coming weeks. Analyst Cantonese Cat highlights multi-time-frame alignment, Fibonacci targets, and structural indicators as the foundation for a potential surge toward $1.50, $2.27, and possibly $4.
While timing remains uncertain, the bullish thesis is reinforced by strong support levels, higher lows, and methodical re-entry into key technical zones. Market participants should watch for resistance breakouts as DOGE continues its measured upward trajectory.
The current setup suggests that Dogecoin’s third major cycle may deliver significant gains if the path-dependent conditions are met, making it one of the most closely watched altcoins in 2025.
