Long -term cryptographic analyst Technical analysis of Dogecoin prices He emphasizes the repeated historical pattern from 2021. The analyst suggests that if the Doge price action can completely reflect this trend, it can cause a rally above USD 10.
Dogecoin price is followed by repetitive market cycles
Dima Potts, cryptographic technical analyst at X (previously Twitter), common Post deep in The current and historical action of DogecoinWhich indicates the potential of significant growth growth. POTTS emphasized the Dogecoin chart in weekly time frames, showing the meme coin price movements in the U Channel.
The chart describes in detail a repetitive pattern in which Dogecoin imitates a similar cycle pattern every few years. Each cycle starts with a rounded Accumulation phase highlighted by red and green curves on the chart, and then A significant breakthrough This leads to a significant price escalate. After each escalate in the parabolic price, the meme coin withdrew and entered the next stages of accumulation before trying another breakthrough.
In the price chart, white lines represent Long -term ascending channelwhich Doge has been trading since 2014. Historically, Dogecoin has affected many times from the lower white line, which leads to Main price escalatein which the meme coin hit the upper white trend lines. Interestingly, the cryptocurrency hit this lower white trend every fourth year in the bull cycle.
In 2017, Dogecoin hit the trend line of lower growing channels, causing a price rally compared to USD 0.01 in 2018. 2021 Bull MarketWhere Doge reached a lower trend line and increased rapidly to ATH in the same year.
Swift forward to the current bull cycle. Potts suggests that the current Dogecoin price price indicates that it is once again on a lower trend line. If They repeat historical trendsThe cryptocurrency is expected to start reversing up, entering the second stage parabolic growth.
Doge predicts that it will reach USD 10
In his analysis, Potts draws attention to this significant Polished price reversal They often occur every four years, including during 2017 and 2021 cycles. On the basis of this trend, The current Dogecoin market structure It shows a mighty possibility that up movement is inevitable.
His chart shows that in each Dogecoin cycle he hit the upper border of the growing channel, indicating an escalate at the highest price at that time. If this trend was to be repeated, Dogecoin could follow the trajectory of his long -term growing channel and maybe reach the highest level above USD 10.
Considering that the meme coin is still trading below USD 1, this price forecast may seem rather ambitious. Coinmarketcap data shows that the Doge price is currently 0.17 USD, emphasizing 40% of the price disaster. The coin meme performance over the past week was bear, led by wider deterioration of the market situation and variability. Nevertheless, analysts such as Potts remain confident about the future perspectives of meme coins.
A distinguished picture from Unsplash, tradingview.com chart
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