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Crypto analyst KrissPax has given a bullish view on the price of Dogecoin, recently indicating that the leading meme coin is still very active. The DOGE is currently seeing a consolidation phase, having mostly converged between October and early November.
Dogecoin Price Still Strong Despite Recent Cooldown
The latest X postKrissPax suggested that the price of Dogecoin is still very active despite the recent cooling. A crypto analyst said that Dogecoin is trading on the 2-hour chart in a classic fashion ascending triangle pattern. He also added that the pattern looks bullish with a flat resistance line, high lows, and strong volatility taking place.
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KrissPax is not the first to highlight the ascending triangle pattern on the DOGE chart, which provides an overview of the price of Dogecoin. Crypto analyst Rekt Capital and recently drew public attention to this bullish pattern and suggested that Dogecoin could rally to $0.56 if it breaks out of this consolidating triangle.
Since the parabolic rally between October and early November, the price of Dogecoin has been consolidated within the $0.4 range. However, crypto analysts like it Master Kenobi and Kevin Capital suggested that meme coin price action is expected and is still in bullish territory despite this cool period.
According to these analysts, the price of Dogecoin has been consolidated for about 25 days in the last bull run after its first bull phase before enjoying another leg to the top. History seems to be repeating itself, as the top meme coin has been coined for the same number of days this time.
This consolidation period may end soon, as the price of Dogecoin has cooled for about 25 days this time. In accordance with this, Master Kenobi predicts that Dogecoin can enjoy another pump in the next few days, rally to $ 1, and finally reach $ 2.9.
DOGE’s Next Leg Will Be “Violent”
Crypto analyst Bluntz Capital predicted that the next leg of the price of Dogecoin will explode. In X’s post, he said that Dogecoin will record a “violent counter-movement” when it breaks this 3-week rally. His accompanying chart showed that the leading meme coin will reach $0.6 this next leg up.
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This proposed rally will put the price of Dogecoin near its current high (ATH) at $0.73. Crypto Crow analyst and gave a bullish view of Dogecoin, saying that market participants should not run out of DOGE. His accompanying chart showed that the meme coin could even break its current ATH in the next leg up.
At the time of writing, the price of Dogecoin is trading at $0.43, down more than 4% 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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