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Bullish
Double bottom confirms Dogecoin bullishness
Dogecoin, anticipating it to rise beyond $0.4325. The market analyst says Dogecoin has formed a Double Bottom pattern after rebounding from its Channel Up pattern's higher lows trendline.
The expert showed a price chart showing the meme currency trading in the Channel Up trend from its December 20, 2024 low. A double bottom pattern near the upper lows trendline tends to indicate upward reversals.
The TradingView expert also stated that Dogecoin's Double Bottom near the pattern's upper lows trendline always generates a distinctive buy signal. As this Double Bottom pattern repeats, the 4-hour MACD shows two consecutive bullish crossings.
Prior Double Bottoms and MACDs triggered big price rallies for Dogecoin. The meme coin price reached new highs at the 2.618 Fibonacci extension level. Since the meme coin's price behavior looks to follow the same pattern for the third time, the expert thinks it might rebound.
The TradingView expert's technical analysis also emphasizes two more moving averages: the 4-hour MA50 provides essential support and the MA200 shows a trend. Dogecoin is bouncing from the Double Bottom around the trend line, and the analyst expects a short-term recovery to $0.4325, the 2.618 Fibonacci extension level.
Historical Patterns To Boost Price Above $20
In another X article, crypto expert Trader Tardigrade predicted a big Dogecoin price jump in current bull market. The analyst is hopeful since DOGE rallied after exceeding a “candle body high” in 2017 and 2021. Meanwhile, meme coins have risen over 3,000% and 8,000%.
Trader Tardigrade thinks that Dogecoin will rise to $8.32 before reaching $20.68 based on previous patterns. DOGE is now trading at $0.34 after falling over 12% in the previous week. The meme currency would need to rise 2,347% and 5,982% to reach the analyst's goals.
#Dogecoin #DOGE #doge⚡ #USTaxExemptionPlan #TrumpCryptoOrder $DOGE
Dogecoin, anticipating it to rise beyond $0.4325. The market analyst says Dogecoin has formed a Double Bottom pattern after rebounding from its Channel Up pattern's higher lows trendline.
The expert showed a price chart showing the meme currency trading in the Channel Up trend from its December 20, 2024 low. A double bottom pattern near the upper lows trendline tends to indicate upward reversals.
The TradingView expert also stated that Dogecoin's Double Bottom near the pattern's upper lows trendline always generates a distinctive buy signal. As this Double Bottom pattern repeats, the 4-hour MACD shows two consecutive bullish crossings.
Prior Double Bottoms and MACDs triggered big price rallies for Dogecoin. The meme coin price reached new highs at the 2.618 Fibonacci extension level. Since the meme coin's price behavior looks to follow the same pattern for the third time, the expert thinks it might rebound.
The TradingView expert's technical analysis also emphasizes two more moving averages: the 4-hour MA50 provides essential support and the MA200 shows a trend. Dogecoin is bouncing from the Double Bottom around the trend line, and the analyst expects a short-term recovery to $0.4325, the 2.618 Fibonacci extension level.
Historical Patterns To Boost Price Above $20
In another X article, crypto expert Trader Tardigrade predicted a big Dogecoin price jump in current bull market. The analyst is hopeful since DOGE rallied after exceeding a “candle body high” in 2017 and 2021. Meanwhile, meme coins have risen over 3,000% and 8,000%.
Trader Tardigrade thinks that Dogecoin will rise to $8.32 before reaching $20.68 based on previous patterns. DOGE is now trading at $0.34 after falling over 12% in the previous week. The meme currency would need to rise 2,347% and 5,982% to reach the analyst's goals.
#Dogecoin #DOGE #doge⚡ #USTaxExemptionPlan #TrumpCryptoOrder $DOGE
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