MastiffThe persistent lowering performance could end shortly while the meme piece seems to have formed a bull graphic motif, capable of triggering a momentum up. With price movements looking at a rebound towards the rise, cryptographic analysts anticipate an upsurge for Doge to new peaks.
A major brewing for Dogecoin
The recent Dogecoin price action has shown promising signs of potential major growth. Trader Tardigrade, a market expert and investor highlighted This Doge is gaining ground because it maintains a movement in a defined graphic model, preparing for a potential breakthrough in a new summit of all time.
More specifically, Dogecoin has moved along a formation of parallel channels, sometimes with overtaking and without. The parallel canal is generally known for its robust bullish movements for Doge with an increase in the purchase interest of investors.
As we can see in the monthly graph, this key model has historically sparked a major increase for the coinleading to a new summit of all time and a top of the market. If the trend continued, Dogecoin can be ready for a substantial increase, attracting the interests of retail merchants and long -term investors.
In the current cycle, the next movement in the DOGE price takes place Likewise at the 2017 market cyclewhere the price touched the channel lines. Meanwhile, the bullish market in 2021 and the bear market in 2019 exceeded the upward and downward channel lines.
The model pointing towards a gathering to a new record of all time in the coming months, Delay Tardigrade has placed the next target possible for DOGE To the price level of $ 3.69. Given the past scenarios, the $ 3.69 bar could prove to be its market summit for this cycle or little at the level.
The Doge Bear market will start in the year
While Dogecoin is preparing for a substantial rally for new heights, his Bull Run should end in the coming months, which will lead to the start of its bear phase. The Chandler market expert plunged into the recent DOGE price action and identified The potential calendar for the memes piece to enter its bear market phase.
Chandler also revealed his strategy to initiate the Doge prices movement in the following months. The expert intends to hold his position up to at least the Fibonacci time zone at 0.236, in particular until March 24.
According to Chandler, historical trends show that after a week or two to cross the level of 0.236 fibonacci, it is the Ideal time To sell Doge and get out of the market. After this level, the next Fibonacci point to monitor is approximately 0.382. Once Doge enters this region around October 20, the expert expects the bear market to begin.
Currently, DOGE was negotiated at $ 0,250, demonstrating a decrease of almost 3% in the last 24 hours. Investors seem to capitalize on the recent descent As its trading volume jumped more than 52% in the last day, indicating growing confidence in the memes room.
Felash star image, tradingView.com graphic