Analyst Predicts Dogecoin Rally Amid Bullish Chart Patterns
Dogecoin's price is potentially set for a significant rally, with technical patterns suggesting a breakout. Crypto analyst Mikybull Crypto identifies the Bump & Run Reversal Bottom (BARR) pattern, indicating DOGE has completed its "Lead-in" and "Bump" phases and is now at the "Throwback to Trendline" stage.
- The BARR pattern historically shows a 64%-68% success rate for upward movements.
- DOGE is currently trading at $0.23, with potential to rise towards $0.70 - $0.85 if the pattern holds.
Cas Abbe highlights a Golden Cross formation on DOGE's daily chart, with price action nearing an ascending channel’s resistance at $0.33.
- A breakout above $0.33 could trigger broader altcoin market rallies.
- DOGE marks critical altseason signals when it begins to surge.
Currently priced at $0.23, Dogecoin faces a 4.3% decline over the last week but has risen by 5.6% in recent months amid market downturns.
