Dogecoin (DOGE) Starts ‘Big Move,’ Expert Predicts Rally to $5
Dogecoin Patterns Signal Bullish Momentum
The chart accompanying @CryptoELlTES’s tweet highlights ascending triangle patterns, often associated with bullish continuation. The chart shows three distinct triangles, each showcasing steady consolidation followed by sharp upward breakouts.
Breakout Zones Show Strong Buying Interest
The chart also identifies breakout points within each triangle, where DOGE’s price surpassed resistance levels. Analysts believe these breakouts reflect growing buying interest and market confidence.
Volume spikes at these breakout zones are key indicators of sustained momentum. However, declining volume or a failure to break key resistances could alter the trajectory.
Path to $5: Ambitious Yet Possible
Currently trading at $0.405124, DOGE has risen 4.83% in a day and around 20% in a week. The analysis points to $5 as a long-term target, representing an over 1,100% increase.
Intermediate resistance levels at $1 and $2 are also identified. Achieving $5 would require solid buying pressure and sustained bullish sentiment, but the roadmap appears promising.
