Dogecoin Breaks Bearish Trend: Analysts Predict Bullish Future as Accumulation Phase Concludes

Dogecoin has officially exited its prolonged bearish phase, with analysts declaring the meme coin's accumulation trend complete as Bitcoin's surge past $70,000 propels DOGE into a confirmed uptrend. The shift marks a critical turning point for the digital asset, with technical indicators now signaling sustained upward momentum as Dogecoin price rallies intensify.

Dogecoin Is Turning Bullish

Crypto analyst Master Ananda published a callout for Dogecoin that suggests that the price may be getting into another bullish trend. In the post made on the TradingView website, the crypto analyst explains that Dogecoin is actually no longer bearish. This comes after the meme coin completed its largest green candle in more than one month, erasing the bearishness that has dominated over the last year.

Explaining why Dogecoin is no longer bearish, the crypto analyst points out that rising volumes, as well as the increase in prices, are culminating in the start of another bullish phase. DOGE, on its part, has seen a bullish breakout with momentum during this time.

Other factors that the crypto analyst calls out are the green candle and rising volume, followed by strong oscillators and marketwise action, which are pushing the bearish trend. Not only Dogecoin, though, the analyst predicts that the world will begin to lean toward the crypto market, and this is expected to trigger a bullish breakout.

Breaking Above $0.1 Holds The Key

Another crypto analyst, Crypto Surf, called out a possible continuation of the Dogecoin uptrend, using technical indicators for this. The first of these is the fact that the Dogecoin price had made a clean bounce off the 0.786 Fibonacci level, as well as breaking the long-term confluence at $0.08.

This move has effectively broken the RSI downtrend, putting it on a path for further recoveries. For now, the next major level lies at $0.1, and this is where the decision could be made for the meme coin. If it breaks above cleaning and completes a close above this level, then the crypto analyst believes this could be a trigger, and that patience is the key.