Meme currency with popular dog theme, DogecoinHe may have witnessed an bearish performance in recent days, but this reducing action could benefit its price dynamics. Technical developments show that the current setback is a sign of a large imminent rally in the price of Dege.
Bullish structure that is formed in the Dogecoin table
After a period of uppercy performance, Dogecoin’s price experienced a setbackwhich led to a correction or consolidation phase. However, the recent Tardigrade Trader analysis, an experienced crypt analyst and investor, reveals that the correction phase is about to get to an end, and a rally is just around the corner.
In the shared analysis on the X platform, trader tardigrade fixed That Dege is preparing for an important increase as a key technical pattern arises in the daily table, a typical sign of a possible bullish trend. The cryptocurrency inspired by the meme is currently consolidating within this key structure, often associated with the continuation of the trend after cooling from the recent maximums.
Specifically, the The same corner He has formed a channel setback. Combined with stable support levels and the growing feeling of the market, this channel formation raises the possibility that Dege is preparing for a significant increase in the next few days.
Looking at the table, this channel setback previously appeared between the end of April and early May. After a pattern break, Dogecoin saw a notable increase of $ 0.17 to $ 0.25 in less than a week. With the reappearance of the structure, the expert maintains that A ruptureThat he believes that it is inevitable, it is likely that a similar rising trend is probable.
If the rupture reflects the previous scenario, Trader Tardigrade has predicted an increase in current price levels to the $ 0.265 mark. Doge claiming this level in conjunction with a significant purchase pressure could act as a launch platform for a continuous manifestation towards higher objectives.
The Dogecoin bullish signal extends beyond the 1 -day table. In another mailThe Tardigrade merchant highlighted a growing impulse in the 3 -day period, which increases the potential of a rebound.
After his 3 -day table exam, the expert found an expanding triangle formation, a key reversion pattern after an extension consolidation phase. Since the market is becoming positively, a breakup is expected to cause a rally to $ 0.275 and beyond.
A notable price growth for incoming doge
A view of a much larger time frame shows that Dege’s price is aimed at a new historical maximum before the current cycle ends. Tardigrade trader has tested The recurrence of a bullish structure that triggered a massive movement for the meme currency within 6 months.
During the 2017 and 2021 cycles, this macro pattern began Doge’s final rally All the way to its peak in each cycle. While the structure has resurfaced, trader tardigrade foresees a similar peak that could lead to a cycle for Dogecoin. The expert table reveals that the meme currency could reach a top from the level of $ 6 and upper.
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