Crypto analyst Trader Tardigrade has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicted that the Dogecoin price could reach as high as $2.15 in this market cycle.
Bull Flag Puts The Dogecoin Price Target At $2.15
In an X post, Trader Tardigrade revealed a bull flag that had formed on DOGE’s daily chart. He stated that there is a tight consolidation within the bull flag. The analyst added that a long flagpole projects the Dogecoin price target at $2.15. Interestingly, his accompanying chart showed that the rally to this target could happen before the year ends.
The Dogecoin price could be well-primed for this rally to the upside. In another X post, Trader Tardigrade stated that a possible Dogecoin scenario has come up with a double-bottom chart pattern. He added that DOGE had formed two equal lows with a resistance at the neckline, which is at around $0.46.
Meanwhile, the crypto analyst also recently stated that the Dogecoin price has gained more buying power with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and rally to around $0.5 on the next leg of the DOGE bull run.
This rally to $0.5 could just be the start of the projected rally to $2.15 based on the bull flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has before now provided more bullish predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 in this cycle while advising market participants to start taking profits around $10.
What The Next Move Could Look Like
Crypto analyst KrissPax provided insights into what the next move up for the Dogecoin price could look like. He stated that following the double-bottom pattern on DOGE’s chart, a fractal from past price action shows a possible move up through Monday, followed by an upward trend until Christmas. However, the crypto analyst cautioned that there will be dips along the way.
Meanwhile, like Trader Tardigrade, KrissPax also highlighted the bull flag that has formed on DOGE’s daily chart. He stated that this bullish pattern points to the Dogecoin price reaching $0.69 by the end of the year. This would break Dogecoin close to its current all-time high (ATH) of $0.73.
Crypto whales look to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez revealed that these investors bought 160 million DOGE in 24 hours.
At the time of writing, the Dogecoin price is trading at around $0.4, up over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Scott Matherson
Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.
Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.
With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.
Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.
Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.
Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.
Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
