Cryptographic analyst Tardigrade Trader has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that Dogecoin price could reach $2.15 in this market cycle.
Bull Flag places Dogecoin price target at $2.15
in a x publicationTrader Tardigrade revealed a bullish flag that had formed on the daily DOGE chart. He stated that there is a strong consolidation within the bull flag. The analyst added that a long flagpole projects Dogecoin’s price target at $2.15. Interestingly, the accompanying chart shows that the rally towards this target could occur before the end of the year.
Dogecoin price could be well prepared for this rally. In another X post, Trader Tardigrade stated that a possible Dogecoin scenario has generated a false bottom chart pattern. He added that DOGE had formed two equal lows with resistance at the neckline, which is around $0.46.
Meanwhile, the crypto analyst also recently stated that the Dogecoin price has gained more purchasing power with a bullish crossover on the moving average convergence/divergence (MACD). Their analysis suggested that Dogecoin could break this resistance at $0.46 and rise to around $0.5 in the next leg of the DOGE bull run.
This rally to $0.5 could be just the beginning 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 already 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 making profits around $10.
What could the next step be like?
Cryptographic analyst KrissPax provided information on what the next Dogecoin price increase could look like. He stated that following the double bottom pattern on the DOGE chart, a fractal of past price action shows a possible upward movement until Monday, followed by an upward trend until Christmas. However, the crypto analyst warned that there will be drops along the way.
Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bullish flag that formed on the daily chart of DOGE. He stated that this bullish pattern points to the price of Dogecoin reaching $0.69 by the end of the year. This would bring Dogecoin closer to its current level all-time high (ATH) of $0.73.
Crypto whales appear to be positioning themselves for this Dogecoin price rally. Cryptographic analyst Ali Martinez He revealed that these investors bought 160 million DOGE in 24 hours.
At the time of writing, Dogecoin price is trading at around $0.4, up more than 1% in the last 24 hours, according to data from CoinMarketCap.
Fountain: NewsBTC.com
