Dogecoin price is expected to see a significant upward explosion based on a recent analysis from a crypto analyst. Tardigrade Merchant. The analyst revealed an uptrend that could push Dogecoin up to $5.
Dogecoin Price Expected to Explode to $5
In a MessageTrader Tardigrade predicted that Dogecoin price could explode to $5. This came as he noted that Dogecoin was close to completing the final leg of its bull run. The crypto analyst added that the Chande Momentum Oscillator (ChadeMO) indicates that DOGE still has a long way to go before reaching the top of this cycle.
The attached chart from the crypto analyst shows that the Dogecoin price could rebound up to $5 based on this ChandeMO indicator. There was also the possibility that the top meme coin would rise again to $9 during this market cycle. Trader Tardigrade continued to provide a bullish outlook for the meme coin in his analyses, suggesting that DOGE could indeed witness a parabolic rally.
Previously, the crypto analyst mentioned that Dogecoin price was aligning with the 50 Arnaud Legoux Moving Average (ALMA). He further noted that this trend is perfectly in sync with the last cycle from 2018 to 2020. Based on this development, he added that DOGE is booming.
The crypto analyst also previously predicted that Dogecoin price could reach double digits in this market cycle. According to him, if the piece itself reflects the 2021 bull cycleit could reach $30. Meanwhile, he predicted that DOGE could rally back to $8.7 if it mirrors the 2017 uptrend.
DOGE closes above the .786 Fib macro
In a post Kevin Capital revealed that Dogecoin price officially closed one daily candle above the 0.786 Fibonacci macro level. Along the same lines, the crypto analyst noted that the goal now is to see a continuation upwards. He added that if this happens, the golden macro pocket’s previous highs around $0.48 would be next.
The crypto analyst previously revealed that Dogecoin price closed a daily candle outside of a falling corner pattern and mentioned that $0.41 was the next important price level. With Dogecoin reaching this level, the $0.48 target is the next level to watch, as suggested by the crypto analyst.
In a post Crypto Titan said that Dogecoin price is targeting $0.66. He noted that DOGE would take off after breaking out of the symmetrical triangle. The crypto analyst added that bullish momentum is building.
At the time of writing, Dogecoin price is trading at around $0.4, down almost 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com