Dogecoin Long-Term Structure Suggests Potential Rise Above $1
The Dogecoin price has been volatile, with periods of sideways trading. Analysts suggest the long-term structure indicates a potential major breakout.
Long-Term Accumulation Signal for Dogecoin
- Crypto analyst EtherNasyonal predicts a significant bull run above $1.
- DOGE's price remains within a strong long-term Ascending Channel, maintaining its structure.
- The monthly chart shows a multi-year accumulation pattern, similar to past rallies.
- Momentum is building above key support levels, suggesting a new expansion phase could form.
- Historically, similar patterns have led to parabolic upward moves.
- A large, rounded base pattern from 2022 to 2024 reflects steady accumulation.
- EtherNasyonal projects DOGE could reach above $1 if historical patterns repeat.
Potential Reversal Indicated by False Breakdown
- Trader Tardigrade highlights a “false breakout” followed by a “false breakdown.”
- DOGE briefly broke above resistance near $0.206 but retraced to $0.178.
- This reversal pattern suggests a possible recovery move toward previous resistance levels.
- The current setup indicates DOGE could reclaim the $0.20 - $0.21 region from $0.18.
