Dogecoin could reach its all-time high of $0.74 if the price closes the month above this level, according to an analyst.
In a new post on X, analyst Ali Martínez shared a technical analysis (TA) pattern that the monthly price of $DOGE has recently shown. The pattern in question is an "Ascending Channel", a type of Parallel Channel.
Parallel channels are formed when the price of an asset consolidates between two parallel trend lines. The upper line is likely to provide resistance in the future, while the lower line offers support. A breakout from either of these levels can imply the continuation of the trend in that direction.
