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Cryptographic analyzer Slow growing trader Highlight the bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst expects Dogecoin price to reach $2.15 this market cycle.
Bull Flag sets Dogecoin price target at $2.15
in Share XTrader Tardigrade revealed a bull flag that had formed on the daily DOGE chart. He stated that there is a tight integration within Taurus flag. The analyst added that the tall flagpole indicates Dogecoin’s target price is $2.15. Interestingly, the accompanying chart showed that a rise to this target could happen before the end of the year.
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Dogecoin price could be well prepared for this upside rally. In another post Double bottom Chart style. He added that DOGE has formed two even bottoms with resistance at the neckline, which is around $0.46.
Meanwhile, a cryptocurrency analyst recently stated that Dogecoin price has gained more purchasing power with Bullish crossover On the Moving Average Convergence/Divergence (MACD). His analysis suggests that Dogecoin could break this resistance at $0.46 and rise to around $0.5 in the next phase of DOGE’s rise.
This rise to $0.5 could be just the beginning of the expected rise to $2.15 based on the bullish flag on the Dogecoin price chart. It is worth noting that Trader Tardigrade had previously provided more bullish forecasts for Dogecoin this market cycle. The analyst expects DOGE to reach $30 this cycle while advising market participants to start taking profits around $10.
What could the next step look like?
Cryptographic analyzer Chris Backes It provided insights into what the next move for Dogecoin price might look like. He stated that after the double bottom pattern on the DOGE chart, a fractal from the previous price action shows a potential upward movement during Monday, followed by an upward trend until Christmas. However, the cryptocurrency analyst warned that there will be dips along the way.
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Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bullish flag that formed on the daily chart of DOGE. He stated that this bullish pattern indicates that the price of Dogecoin will reach $0.69 by the end of the year. This will break Dogecoin close to its current position All time high (ATH) From $0.73.
Crypto whales are looking to brace for this Dogecoin price surge. Cryptographic analyzer Ali Martinez He revealed that these investors bought 160 million DOGE within 24 hours.
At the time of writing, Dogecoin price is trading at around $0.4, up more than 1% over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com
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