After months of bearishness, a sharp 11,900% liquidation imbalance may have just reset the market, putting bullish Dogecoin price predictions on a stronger footing.
Of the $4.96 million in early Tuesday afternoon liquidations, roughly $4.92 million came from longs while shorts lost around $42,000 as traders chased a continuation.
Dogecoin 4-hour liquidations. Source: Coinglass.The meme coin dipped to around $0.1495 before rebounding above $0.15, a move that tempted traders to pile into leveraged longs expecting a stronger continuation.
When the price stalled instead of breaking higher, those overextended positions were quickly flushed out.
This leverage reset cleared excess speculation from the market and may now open the door for spot buyers and stronger hands to regain control.
Despite the volatility, bulls managed to defend the $0.15 level, while bears failed to push DOGE back below the $0.145 zone.
The setup shows early-stage similarities to the structure seen last market cycle. In the build-up to the 2021 bull run, a leverage flush marked the end of prolonged consolidation before momentum returned and price entered a broader trend continuation phase.
Dogecoin Price Prediction: How the Bears Crushed the Bulls
This strength has put a potential year-long descending triangle pattern back in play, potentially ruling out a recent breakdown of its lower support as a false flag.
DOGE / USD 1-day chart, descending triangle pattern. Source:TradingView.Momentum indicators support the move, returning to pre-market-crash levels. The RSI has broken into bullish territory, peaking at 65, a level unseen since September.
The MACD reads much the same, building a wide lead above the signal line after months of weak movement.
The key breakout threshold sits around $0.225, with interim support around $0.185 as the immediate level to watch for a rejection.
A clean triangle breakout sets up a measured move of roughly 310% to past highs around $0.50, and a fully realised target of $1 for a potoentail 710% gain.
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Visit the Official Bitcoin Hyper Website HereThe post Dogecoin Price Prediction: Bulls Crush Bears in Surprise Move – Is This a Repeat of the 2021 Setup? appeared first on Cryptonews.
