#doge⚡ Dogecoin

4H Cycle Analysis

On the 4-hour (4H) chart, Dogecoin presents relatively clear technical pattern characteristics. A double top structure has already formed, and the construction of this structure is nearing its end. From the overall box structure perspective, the price is currently in the middle area of the box, which holds significant reference meaning for future trend judgments.

Further analyzing the wave patterns in the 4H trend, it is currently very likely that we are in the rebound phase of wave b. According to Fibonacci retracement theory, the key retracement level of 0.618 is around 0.4388, while the actual price has touched the 0.5 retracement level corresponding to 0.4249. There is some slight error in the Fibonacci retracement data on the chart, but it can still serve as an important reference. As the rebound of wave b gradually completes, it is highly probable that a decline in wave c will follow. Based on the 0.618 retracement level calculation, the target price for wave c is approximately 0.3514.

Daily Cycle Analysis

On the daily chart, the technical patterns of Dogecoin are more complex and varied. On one hand, both a double top structure and a range structure exist simultaneously, with the neckline positioned around 0.365. The gain or loss at this critical level will have a significant impact on the daily trend. On the other hand, from the perspective of Elliott Wave Theory, there are multiple possibilities for the daily trend's evolution. It could either transform from wave b to an extended wave 5, or transition directly from wave b to a decline in wave c, or even start a new decline in wave a directly. Therefore, the overall trend on the daily chart still requires more time and price fluctuation information to clarify and confirm.

Weekly Cycle Analysis

On the weekly level, Dogecoin is currently in the upward phase of wave 3 but may soon transition into a 4 wave adjustment. Changes in the market during this phase are often crucial, as the depth, duration, and structural characteristics of the 4 wave adjustment will directly affect the expectations and intensity of the subsequent 5 wave rise. In the analysis of the weekly cycle, it is necessary to closely monitor the changes in various technical indicators and the price performance at key support and resistance levels to capture signals of market trend shifts in a timely manner.

In summary of the technical analysis across multiple cycles, Dogecoin is currently in a complex phase of technical pattern transformation, with different cycle technical indicators and structural patterns mutually influencing and constraining one another. Investors, when focusing on Dogecoin's trend, should comprehensively consider the technical characteristics of each cycle, along with factors such as trading volume and market sentiment, to make cautious investment decisions.

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