Dogecoin’s price action is I’m working on rebound After hitting $0.222 in the last 24 hours. Zooming out to a larger time frame means that the price structure of the weekly time frame is An explosive breakout has been created. Technical analysis shows that already can offer exceptional gatherings, the memecoin is currently sitting on a new, ever-sential powder barrel. In particular, technical forecasts show that if the current trend continues, Dogecoin could surge to $1.30.
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Repeating the pattern refers to a $1.3 goal
First interesting chart observation It focuses on how the dogcoin spins unfold as it repeats the wave of expansion. This analysis posted on social media platform X
Kamran Asghar shows how Dogecoin tracks its iterative structures in its weekly Candlestick Timeframe Chart.
In the second half of 2023, dogcoin prices surged out of consolidation with a 300% surge, and another wave in 2024 brought 500% rallies from trendline support to resistance. Each cycle began with a bounce from the ascending white trendlines shown in the weekly chart below.
Now this pattern is set for 800% meetings highlighted in the green projection box in the chart below. The move, if completed, will raise Dogecoin’s price beyond its current highest high of $0.7316, eventually surpassing its $1 price level. In particular, this forecast will bring Dogecoin to more than 800% to reach its price target of around $1.30.
X Chart Image: Kamran Asghar
Since 2021, Dogcoin’s bullish channel remains the same
Another technical analysis looks at a broader perspective on Dogecoin’s performance over the past four years. Price actions in weekly time frames are plotted within a colored channel system starting with the 2021 breakout, as shown in the chart below. The orange line below acts as a consistent support, while the green midline acts as a pivot point. Finally, the blue line at the top serves as a resistance.
At the time of writing, Dogecoin is trading around $0.23, which lies between the green midline and orange support. According to analyst Krisspax, Who posted it? Social Media Platform X Technical Analysis X, Dogecoin I’m still going well to keep moving The top band of the channel is marked blue. Once you reach this upper band, the meme coins range from $0.70 to $1.00, retesting its all-time highs in 2021. But in this case the first step is to break above the green midline, currently around $0.4.
X: Krisspax chart image
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Meanwhile, Dogecoin has been trading at $0.23, up 1.1% over the past 24 hours. Investors are waiting Approval of SEC’s Spot Dogecoin ETF.
Pixabay featured images, TradingView chart
