Dogecoin price recently broke a level Symmetrical triangle patternThis indicates the possibility of upward momentum. Interestingly, this hack happened only three days ago Donald Trump’s presidential inauguration. Given the timeline, one cryptocurrency analyst issued a bullish price prediction, predicting that Dogecoin will reach all-time highs soon.
Dogecoin price is breaking out of a bullish chart pattern
In X (formerly Twitter) mail On Friday, Master Kenobi, a prominent cryptocurrency analyst, presented A Technical analysis of Dogecoin Using historical data and technical patterns to predict the future price of the MIM coin. The analyst’s chart shows a symmetrical triangle, which is a bullish pattern that often appears when two converging trend lines meet.
According to Mr. Kenobi, Dogecoin has recently broken out of this symmetrical triangle, indicating a possible emergence Strong upward movement In the direction of penetration. The red threshold shown on the analyst’s Dogecoin price chart shows the meme coin’s next major resistance level at $0.56.
Achieving a price beyond this resistance area at $0.44 indicates that Dogecoin is likely to reach an all-time high of $0.74 as its ultimate target. Furthermore, Master Kenobi revealed that Dogecoin’s latest hack from its symmetrical triangle occurred three days before Trump’s presidential inauguration on January 20, 2025.
Based on this timeline, Master Kenobi thought Dogecoin could reach a new ATH In three days, it rose from its market value of $0.39 to $0.74. This significant price hike represents a massive 89.7% increase over current prices. Looking at the chart, the analyst also noted that Dogecoin’s expected rise will be gradual, likely crossing $0.44 to reach a new resistance level at $0.56 and then rising to the ATH price level at $0.74.
Although Mr. Kenobi has maintained confidence in his bullish outlook for the Dogecoin price, he also acknowledges the uncertainty inherent in his forecast. Price forecastHe advised investors to remain flexible in their strategies and reserve their opinions.
Although Dogecoin’s recent bullish performance Ahead of Trump’s inauguration, the analyst’s technical analysis remains speculative and emphasizes the volatility of the cryptocurrency market. However, The price of Dogecoin is skyrocketing It jumped 18.8% earlier this week and retested the $0.4 psychological level.
Analyst says Dogecoin Bull Run is coming
According to prominent cryptocurrency analyst Trader Tardigrade, Dogecoin trend pattern In 2017 it closely reflects its current movement. The analyst has subscriber A chart providing a comparative analysis of Dogecoin’s price movement in 2017 and its expected movement in 2025.
Both Dogecoin charts show a Long period of price consolidation After achieving major local peaks. In both 2017 and 2025, Dogecoin experienced long-term downward pressure, building support near the horizontal blue line in the chart.
Additionally, the charts show the formation of a red, downward-sloping trend line during Dogecoin’s consolidation phase. Based on Trader Tardigrade’s analysis, if Dogecoin can break above this trend line, it could signal the beginning of… Huge bull racewhich could push the price of the meme coin above $3 and set a new ATH mark.
Featured image from Business Insider, chart from TradingView
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