Dogecoin’s recent price action is defined by a steady low and a choppy attempt above $0.25. It’s on meme coin I was able to maintain it The bullish momentum for the past 24 hours after the merger ended in September.
This recent trend has led to Dogecoin’s upward trend continuing on daily charts, and technical analysis shows Share with Social media platform X by analyst Javon Marks, this structure could set the stage for a powerful upward movement.
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Breakout structure and higher prices
According to Marks, Dogecoin’s current price formation could be the early stages of a massive gathering that will bring Meme Coin to $0.65 in a rapid move.
This prediction is based A clear sequence Higher lower (HL) and higher higher values formed in the Dogecoin Price Chart. This formation is on the 5-day candlestick time frame chart, dating back to 2022 Bear Market. The initial high began with a decline in capitulation in 2022 and continued until 2023 until 2024. Each low value raises buyer interest after all corrections. This is a sign of bullish continuation in the higher time frame.
Latest examples It came during the recession in Septemberwhen Dogecoin found strong support for $0.22. Rather than breaking any further, the price rebounded from this level, creating even higher and lower levels of the series. This response was significant as we confirmed that the uptrend in Dogecoin was still intact.
Marks points out that this high, upward structure means that another wave is likely to be in the work. So the current phase between the current $0.22 and $0.25 has become more Move higher before the next explosive move.
Dogecoin 5 Day Price Chart: Javon Marks on x
153% of the meeting case is $0.6533
Marks’ projections go beyond a simple breakout. Analysts predicted they would continue with Dogecoin Create another high In the coming weeks and months. This wave rise could be more than 153% of Dogecoin’s current price level.
His chart identifies $0.6533 as the immediate target for this wave. To achieve this level, Dogecoin needs to be more than doubled from its current price, but given its price history, this is not unprecedented. If Dogecoin reaches its $0.6533 breakout target, it will be the strongest bullish rally from early 2021. However, this is still below the all-time high of 2021 $0.7316. If bullishness continues.
Interestingly, the analysis also noted that Dogecoin could extend the gathering Beyond the dollar threshold. In particular, the second price target is $1.25711, which may seem far away in the short term.
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At the time of writing, Dogecoin has declined 1.7% over the last 24 hours and has risen 10% over the seven-day period.
Pixabay featured images, TradingView chart
