According to a recent analysis by a crypto analyst, Dogecoin price is likely to witness a significant upward surge Trader Tardigrade. The analyst revealed a bullish pattern that could push Dogecoin up to $5.
The Dogecoin price is set to explode up to $5
In one X contributionTrader Tardigrade predicted that Dogecoin price could explode to as high as $5. This came as he noted that Dogecoin is about to complete its final phase Bull run. The crypto analyst added that the Chande Momentum Oscillator (ChandeMO) suggests that DOGE still has a long way to go before it peaks this cycle.
The attached crypto analyst chart showed that Dogecoin price could rise up to $5 based on this ChandeMO indicator. There is also a possibility that the leading meme coin could rise even further to $9 in this market cycle. Trader Tardigrade has continued to provide a bullish outlook for the meme coin in his analysis, suggesting that DOGE could indeed experience a parabolic rally.
Previously, the crypto analyst had mentioned that the Dogecoin price was approaching the 50-mark Arnaud Legoux Moving average (ALMA). He further noted that this pattern is perfectly synchronized with the last cycle from 2018 to 2020. Based on this development, he added that DOGE is in the midst of a rise.
The crypto analyst had also previously predicted that Dogecoin price could hit double digits in this market cycle. According to him, if the meme coin reflects that Bull cycle 2021it could rise to as much as $30. Meanwhile, he predicted that DOGE could rise to $8.7 if it mirrors the 2017 bull market.
DOGE closes above the macro .786 Fib
In an X post, crypto analyst Kevin Capital revealed that Dogecoin price has officially closed a daily candle above the macro Fibonacci level of 0.786. In line with this, the crypto analyst noted that the goal now is to see a continuation of the uptrend. He added that if this happens, the macro gold pocket’s previous highs around $0.48 will be next.
The crypto analyst previously revealed that Dogecoin price closed a daily candle outside a falling wedge pattern and mentioned that $0.41 is the next important price level. With Dogecoin reaching this level, the $0.48 target is the next level to keep an eye on, the crypto analyst suggested.
In an X post, crypto analyst Titan of crypto stated that Dogecoin price is targeting $0.66. He noted that DOGE would take off after breaking out of the symmetrical triangle. The crypto analyst added that bullish momentum is building.
At the time of writing, Dogecoin price is around $0.4, down almost 4% in the last 24 hours Data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com