Dogecoin Pulls Back But Ichimoku Alignment Signals Strength; See Why

Dogecoin recently faced a slight pullback after hitting a fresh high, yet its overall momentum remains firmly intact. Key Ichimoku indicators continue to align in favor of the bulls, reinforcing the strength behind the trend.

Pullback Fails To Shake Bullish Structure Trader Tardigrade, an analyst on X, noted in a recent update that Dogecoin (DOGE) has seen a pullback after reaching its recent high. Despite this retracement, the overall structure remains firm, suggesting that the market still favors strength on the higher timeframes.

Related Reading: Dogecoin In Buy Zone: Bulls Eye $0. 34 As Immediate Target According to the analysis, the Ichimoku indicators continue to show strong alignment.

This setup reinforces the bullish outlook, as the cloud and key lines continue to support ongoing momentum. The update also highlighted that five previous long trades remain highly profitable.

With the bullish conditions holding, there has been no reason to exit these positions yet. The consistency of these profitable trades underscores the reliability of the Ichimoku signals in tracking Dogecoin’s performance.

However, the analyst made it clear that profit-taking will only be triggered by a bearish signal. Specifically, attention is on the potential for a Tenkan-sen/Kijun-sen cross, the Conversion line moving below the Base line, which would indicate a shift in momentum.

Key Levels And Uptrend Score Furthermore, Trader Tardigrade outlined the key support levels for DOGE based on Ichimoku analysis. The Kijun-sen offers immediate support at $0.

24770, while a broader support zone lies between $0. 21517 and $0.

22400 at the Kumo cloud. These levels are seen as critical areas where buyers may step in to maintain the bullish structure.

Related Reading: Dogecoin Bullish Kumo Breakout, But Can DOGE Overcome The $0. 23804 Barrier?

The analyst also noted the significance of the Kumo cloud’s current color, which is green. This reflects a bullish bias in the market and adds another layer of confirmation to the ongoing uptrend.

With the cloud trending positively, momentum appears to favor the bulls. Breaking down the trends further, the short-term outlook shows price trading above the Kijun-sen, signaling continued upward pressure.

In the mid-term, DOGE remains above the Kumo cloud, further strengthening the case for sustained bullish momentum. On the long-term chart, the Chikou Span is positioned above the price, which reinforces the broader uptrend.

Altogether, these conditions result in an overall Ichimoku score of +4, indicating a strong uptrend across multiple timeframes. Such alignment suggests that Dogecoin is well-positioned to extend its strength if support levels hold.

In summary, the technical data presented by Trader Tardigrade corroborates his earlier assessment. DOGE’s current position, supported by a perfect alignment of bullish indicators and a total score of +4, confirms a strong uptrend.

Featured image from iStock, chart from Tradingview. com