The Dotecoin Prize has recorded significant growth and has maintained a steady rise within a well -defined “channel up” pattern since December 2024. Recent recent Technical indicators and price campaign Suggest that Dogecoin may be preparing for an important price meeting. A crypto analyst confirmed this bullish outlook and forecasts Dogecoins rise to its first target of $ 0.432.
Double Bottom confirms Dogecoin Price Bullish Setup
“Tradingshot”, a crypto analyst at Tradingview, has forecast A new bullish goal for Dogecoin that expects the Meme coin to gather over the finish of $ 0.4325. According to the market expert, the Dotecoin price has from the trend line with a higher depths of its channel -up pattern Double floor pattern.
The analyst announced a price diagram and emphasized that the Meme coin was initially traded within the channel -up pattern because it was reached on a price below on December 20, 2024. Typically, a double floor pattern near the trend line forms with higher lows and signals a potential for the upward potential. Reversions.
The trading view analyst also revealed that a unique one Buy signal It always arises when the price of dotecoin makes a double floor near the higher lows trend line of the pattern. In addition, every time this double lower pattern occurs, the 4-hour Moving Average Conergenz Diversgence (MACD) Displays two consecutive bullish crosses.
Previously, Dogecoin formed two double floor and macds and triggered a significant price rally in both cases. At that time, the price for the Meme coin rose to the height of 2,618 Fibonacci expansion level, Mark new heights. Based on this past trend, the analyst is of the opinion that the Meme coin could experience a similar rally, since its price campaign seems to repeat the same pattern for the third time.
The TradingView expert Technical analysis Also underlines the role of other moving average values and underlines that the 4-hour Ma50 acts as a decisive area of support, while the MA200 underlines a wider trend. The price for dotecoin is currently Back rash From the double floor near the trend line, and the analyst projects a short -term rally towards $ 0.4325, whereby the extension level of 2.618 Fibonacci aligns.
Historical patterns for the trigger of price rally over $ 20
In another X PostCrypto Analyst Trader Tarderrade, projected A massive price boost for dotecoin In this bull market. The analyst has supported its optimistic forecast on historical trends, in which Dogge surpassed an earlier “candle body high” in 2017 and 2021. At this point, the Meme coin had increased by over 3,000% and 8,000%.
From the distinction of historical trends, Trader Tartrrade predicts that Dotecoin follows a similar trend pattern of which Price could gather Up to $ 8.32 before jumping to an ultimate goal of $ 20.68. To write, the price for Doge is $ 0.34 afterwards declining by over 12% last week. An increase in the projected goals of the analyst would require that the Meme coin covers 2,347% or 5,982%.
Selected picture of Unsplash, diagram of tradingview.com