Key Insights:
- Dogelon Mars (ELON) appears bullish and is poised for a 25% upside rally.
- The price prediction suggests that ELON will remain bullish if it exceeds the $0.000000133 mark. Otherwise, it may fail.
- However, on-chain metrics reveal that traders and investors hold a bearish outlook.
Dogelon Mars price has garnered significant attention from investors and traders due to its impressive performance in recent days. ELON’s price surge follows a significant downturn earlier this year.
Since January 2025, the meme coin has dropped over 85%, marking a significant correction before its recent rebound. Dogelon Mars price has surged over 45% in the past few days, showing strong bullish momentum.
Breaking a key resistance level has paved the way for a potential massive upside rally. At press time, ELON was trading near $0.0000001372. Also, the token had registered a price surge of over 1.50% in the past 24 hours.
During the same period, trading volume surged 40%, reflecting increased activity from traders and investors. This spike was likely fueled by the recent breakout above a key resistance level, signaling growing market optimism.
Dogelon Mars Price Technical Analysis and Upcoming Levels
Expert technical analysis and Dogelon Mars price prediction suggest that the meme coin is poised for a massive upside rally. On April 23, 2025, the meme coin broke out of a bullish cup-and-handle pattern.
It then closed a daily candle above the neckline, confirming strong upside momentum. This candle closing above the neckline confirms a successful breakout.
This bullish price action took place at a key support level, known for sparking price reversals or increased buying pressure. Its historical significance suggests that traders may continue to see strong momentum at this level.
If the meme coin maintains support above the neckline of its bullish pattern, it could gain 25% in the coming days. This surge would likely push the price toward the next key resistance level, reinforcing its strong upward momentum.
At the same time, Dogelon Mars price traded below the 200-day Exponential Moving Average (EMA) on the daily timeframe. This indicated that the meme coin is in a downtrend.
Meanwhile, ELON’s RSI stood at 56.40, indicating that the meme coin has bullish strength and appears to support further gains. Since it remains below overbought levels, the rally could continue without an immediate risk of a sharp pullback.
Bearish On-Chain Metrics
Although technical indicators signal upside potential, long-term holders remain cautious. Coinglass reported that traders still hold a bearish outlook on the meme coin despite its recent bullish price action.
Spot inflow/outflow data revealed that exchanges have witnessed a continuous inflow of the ELON meme coin since April 18, 2025.
This ongoing inflow into the exchanges indicates a potential dump by investors and retail traders. It could cause selling pressure and further Dogelon Mars price decline.
On-chain metrics indicate that long-term holders and traders hold a bearish stance on the meme coin. This shared sentiment suggested caution despite recent bullish price action.
ELON’s long/short ratio at press time stands at 0.665, indicating a strong bearish sentiment among traders. This metric reflects traders’ sentiment and shows that 60.06% of top traders held short positions. On the other hand, 39.94% held long positions.
When combining these on-chain metrics, bears appear to dominate the meme coin. This explains the long/short ratio value and the continuous inflow into the exchanges.
If these metrics remain unchanged, there is a strong possibility that the bullish outlook will collapse and Dogelon Mars price will decline.