The relationship between Dogecoin and Bitcoin An interesting turn is about to take place as the Doge/BTC trading pair flashes with a technical mode that always holds major rally at the price of Dogecoin. According to the latest analysis by crypto analyst Trader Tardigrade on X, the latest decline in the Doge/BTC pair may not be a bearish signal. Instead, this could be the beginning of something bigger about Doge.
Doge/BTC prints lower lows again
A noteworthy pattern emerged when checking the price chart for Dogecoin’s weekly candlestick time range. Before every explosive price surge in Dogecoin, the Doge/BTC pair tends to lower the slide to form new lows. Meanwhile, Doge’s price began to trend upward. This difference has been observed several times before the trend in early 2024 and late 204 and seems to be forming again.
Trader Tardigrade Chart This recurring structure is illustrated In Dogecoin’s price behavior. The upper half of the chart highlights the USD chart for domycin, with multiple powerful bullish moves. Interestingly, each pump showed a significant downward trend at the Doge/BTC ratio shown in the lower half of the chart.
The latest series of lows on the Doge/BTC chart indicate that Bitcoin is Currently more than Dogecoin Relative performance; however, if history is the determinant, the situation may change soon. If this pattern reappears, the meme coin may build momentum for the fresh stage, eventually pushing its price beyond significant resistance levels in the $0.20 range and dropping to multiple month highs. Analyst Trader Tardigrade also conveyed this prospect to, noting that the current setup indicates that “large pumps are in front.”
The next goal of multi-dogecoin
At the time of writing, Dogecoin traded around $0.1758, Reflect about a decrease 7.3% in the past 24 hours. During this period, the price of the coin fluctuated between $0.1698 and $0.1921, with trading volume of $2 billion.
Bitcoin, on the other hand, is currently down 1.4% in the past 24 hours. lead Cryptocurrencies have fluctuated From high intraday prices of $105,888 to as low as $100,783, then slightly recovered to $103,200 while writing. Not surprisingly, this range is very wide It also reflects Prices for other cryptocurrencies around the board.
It is worth noting that the recent 24-hour price action has caused Dogecoin to extend its minimum level against Bitcoin, while the Doge/BTC pair is currently trading at 0.00000170.
If the lows of the Doge/BTC pair again act as a pioneer in price reversals, it could lay the foundation for another Doge Price Breakout. Based on this setup, Trader Tardigrade is expected Dogecoin price rally At a new all-time high above $0.70.
Featured Images from Getty Images, TradingView.com Charts
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
