Bull Flag Formation Puts Dogecoin Price As High As $2.15 This Cycle
Crypto analyst Trader Tardigrade has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that the Dogecoin price could reach as high as $2.15 in this market cycle.
Bull Flag Puts The Dogecoin Price Target At $2.15
In an X post , Trader Tardigrade revealed a bull flag that had formed on DOGE’s daily chart. He stated that there is a tight consolidation within the bull flag . The analyst added that a long flagpole projects the Dogecoin price target at $2.15. Interestingly, his accompanying chart showed that the rally to this target could happen before the year ends.
Source: X
The Dogecoin price could be well-primed for this rally to the upside. In another X post, Trader Tardigrade stated that a possible Dogecoin scenario has come up with a double-bottom chart pattern. He added that DOGE had formed two equal lows with a resistance at the neckline, which is at around $0.46.
Source: X
Meanwhile, the crypto analyst also recently stated that the Dogecoin price has gained more buying power with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and rally to around $0.5 on the next leg of the DOGE bull run.
This rally to $0.5 could just be the start of the projected rally to $2.15 based on the bull flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has before now provided more bullish predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 in this cycle while advising market participants to start taking profits around $10.
What The Next Move Could Look Like
Crypto analyst KrissPax provided insights into what the next move up for the Dogecoin price could look like. He stated that following the double-bottom pattern on DOGE’s chart, a fractal from past price action shows a possible move up through Monday, followed by an upward trend until Christmas. However, the crypto analyst cautioned that there will be dips along the way.
Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bull flag that has formed on DOGE’s daily chart. He stated that this bullish pattern points to the Dogecoin price reaching $0.69 by the end of the year. This would break Dogecoin close to its current all-time high (ATH) of $0.73.
Source: X
Crypto whales look to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez revealed that these investors bought 160 million DOGE in 24 hours.
Source: X
At the time of writing, the Dogecoin price is trading at around $0.4, up over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Scott Matherson
Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.
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