DotecoinThe persistent bear performance could come to an end shortly, since the Meme coin seems to have formed a bullish diagram pattern that is able to ignite upwards. With price movements that have a leap to the upward trend in the eye, Krypto analysts expect an increase from Doge to new heights.
A big breakout brewing for Dogecoin
The most recent price campaign by Dogecoin has shown promising signs of potential greater growth. Trader Tarderrade, a market expert and investor emphasized This Doge obtains traction because it maintains a step within a defined diagram pattern and adjusts to a possible breakthrough in a new all -time high.
In particular, Dogecoin has moved along a parallel sewer formation, sometimes with exuberant and without. The parallel channel is usually known for its robust bullish movements for Doge, whereby investors are increasingly interested in buying.
As can be seen in the monthly diagram, this key pattern historically has triggered a great increase for them Meme coinWhich leads to a new all-time high and a market top. If the trend is continued, Dogecoin can be ready for a significant increase that arouses interest from both retail dealers and long -term investors.
The next increase in Doges Prize plays in the current cycle Similar to the market cycle 2017Where the price touched the canall lines. In the meantime, the bull market in 2021 and the bear market exceeded the canall lines on the top and downwards in 2019.
With the pattern that points to a new all -time high in the coming months, Trader Tarders has set the next possible goal for the goal Dog Around $ 3.69 price level. In view of the past scenarios, the 3.69 US dollar mark could turn out to be a market top for this cycle or little over the level.
Doge’s bear market to start within the year
While Dogecoin is preparing for a significant rally to new heights, his bull run should end in the coming months, which will cause the beginning of his bear phase. Market expert Chandler has dealt with DOGE’s latest price campaign and has aligned The potential timeline for the Meme coin to get into its bear market phase.
Chandler also revealed his strategy to hire DOGE’s price movement in the following months. The expert intends to keep his position up to at least the Fibonacci time zone at 0.236, especially until March 24.
According to Chandler, historical trends show that it is after a week or two after crossing the 0.236 fibonacci level Ideal time Sell Doge and leave the market. After this level, the next Fibonacci point is around 0.382. As soon as Doge enters this area around October 20, the expert expects the bear market phase to begin.
Doge was currently $ 0.250 and showed a decline of almost 3%in the last 24 hours. Investors seem to benefit from the latest descent Since its trading volume has increased by more than 52% last day, which indicates the growing trust in the Meme coin.
Selected picture of Unsplash, diagram of tradingview.com