Dogecoin Faces 2.628% Drop, Pivotal Move Awaits in Two Weeks

Dogecoin's latest price was $0.1883, down 2.628% in the last 24 hours. The popular meme cryptocurrency is currently navigating a critical phase in its market trajectory. According to crypto-market commentator VisionPulsed, the next two weeks are pivotal for Dogecoin as it approaches a decisive inflection point. VisionPulsed's analysis highlights several key indicators that suggest a significant move is imminent. The Bollinger Band Width Percentile (BBWP) is squeezing toward levels that historically precede violent price expansions, indicating that a large move is likely to occur soon. This compression is expected to resolve within the next two weekly candles, either pushing the price up or down.

Adding to the complexity, a newly triggered hash-ribbon buy signal has been observed. This signal, which occurs when the network hashrate recovers after miner capitulation, has historically preceded market rallies. VisionPulsed notes that in previous bull runs, similar signals have led to short-term weakness followed by significant upward movements. However, momentum oscillators present a contrasting view, with the stock-RSI curling lower for the first time since last year, which could undermine the hash-ribbon signal if the price fails to rebound quickly.

Timing is also a critical factor, as Dogecoin's rallies typically follow a 70-to-80-day cycle measured from major swing lows. The current window for this cycle is set to expire in mid-June, adding urgency to the situation. If Dogecoin does not experience an upward move in June, it could signal a bearish trend that extends into July and August, with September historically being a bearish month. This timing coincides with broader market movements, as the S&P 500 approaches its all-time high, which could influence crypto sentiment.

For traders, the message is clear: a breakout to the upside in the next ten trading days would validate the hash-ribbon cross and maintain the rising-lows structure, resetting sentiment after a period of six out of seven red months. Failure to do so could cement a bearish spiral, dominating the rest of the summer and reviving memories of a genuine bear-market grind. VisionPulsed emphasizes that Dogecoin is at a critical juncture, with potential energy building up and the market poised for a significant move.