Dogecoin price display Strong bullish signal After the falling gap is formed. A successful retest of the breakout and gap pattern has fueled optimism of a potential price rally, with one crypto analyst predicting a 50% jump to new highs soon.
Falling wedge breakout signals Dogecoin price rally
Dogecoin has been Trade in a falling wedge pattern Since November 2024, its price has been gradually tightening within a declining range for some time now. A TradingView crypto analyzer, Viprose, shared A chart showing Dogecoin’s technical analysis on a daily time frame, highlighting key price patterns and predicting a 50% price rise to new bullish targets for Meme Coin.
Viprose revealed that recently DOGE Broken by the falling wedge and successfully retested its upper limit, confirming its bullish position. Due to the recent development, the analyst believes that a new breakout has been targeted by Mim Coin. Key resistance zone At the 0.618 Fibonacci level, corresponding to the $0.37 price point.
A falling wedge is considered a bullish technical analysis chart pattern that indicates that a Potential trend reversal. This pattern is formed when the price of a cryptocurrency falls while its range of motion narrows.
Wipros has expressed confidence that Dogecoin’s breakout and retest of this falling wedge could triple its price. New bullish targets. The TradingView analyst shared several Fibonacci levels, which will serve as key resistance areas ahead of a possible rise to the anticipated price targets.
Specifically, the Fibonacci levels at 0.618, 0.5, 0.382, 0.236, and 0 are highlighted. Dogecoin chartUnderscoring key resistance levels, Meem Coin should break through to meet its first bullish target of $0.48656. For DOGE to reach this price, it must rise to about 50% of its current market value.
The analyst has also determined Dogecoin’s next price target At $0.57395, this shows that the continued bullishness of Meme Coin could push this price higher if it successfully moves past $0.48. This optimistic forecast suggests that the price of Dogecoin will need to increase by about 72%.
The third and final target estimated by TradingView analysts is $0.66554. If Dogecoin achieves this price, it represents a gain of almost 100% from its current market price. Interestingly, Viprose’s forecast for DOGE coincides with key resistance zones, should Mem coin be targeted. New all-time high. Currently, the altcoin is more than 50% below the ATH price of $0.73, achieved during the previous bull run in 2021.
The analyst says that the price of Dogecoin will fall first
While Wipros has hit these three targets—$0.48, $0.57, and $0.66—another prominent TradingView analyst, ‘MMBTrader,’ is optimistic about a Dogecoin price increase. Bearish outlook for meme coin.
MMBTrader Accepted That the above estimated price levels were “good targets” for Dogecoin. However, the analyst believes that Meem coin A Significant price improvement before starting its next bullish rally. At the time of writing, DOGE price is trading at $0.33, representing a significant drop of 9.4% in the last 24 hours.
Featured image from Unsplash, chart from Tradingview.com
