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Crypto analyst Trader Tardigrade highlighted a bullish pattern formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that the price of Dogecoin could reach as high as $2.15 in this market cycle.
Bull Flag Puts Dogecoin Price at $2.15
In an X postTrader Tardigrade has revealed a bull flag formed on the DOGE daily chart. He said there is a strong internal reinforcement bull flag. The analyst added that the long flagpole projects the price of Dogecoin at $2.15. Interestingly, his accompanying chart showed that the meeting of these targets could happen before the end of the year.
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The price of Dogecoin may well be used in this rally to the upside. In another X post, Trader Tardigrade said that Dogecoin’s situation may have come down to double-bottom chart pattern. He also added that DOGE has formed two equal lows with resistance at the neckline, which is $0.46.
Meanwhile, a crypto analyst recently revealed that Dogecoin’s price has gained a lot of buying power with bullish crossover in moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and meet around $0.5 in the next leg of the DOGE bull run.
This rally to $0.5 may just be the start of a proposed rally to $2.15 based on the bull flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has provided us with additional predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 this cycle while advising market participants to start taking profits around $10.
What the Next Move Could Look Like
Crypto analyst KrissPax provided details on what the next Dogecoin price hike could look like. He said that following the double bottom pattern on the DOGE chart, the fractal of the previous price action shows a possible downward trend until Monday, followed by an upward trend until Christmas. However, the crypto analyst warned that there will be dips along the way.
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Meanwhile, as Trader Tardigrade, KrissPax also highlighted the bull flag formation on the DOGE daily chart. He said this bullish pattern points to the price of Dogecoin reaching $0.69 by the end of the year. This will break Dogecoin closer to its current state all time high (ATH) cost 0.73 $.
Crypto whales seem to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez he revealed that these investors bought 160 million DOGE in 24 hours.
At the time of writing, the price of Dogecoin is trading around $0.4, up more than 1% in the last 24 hours, according to the report. data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com
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