Will Dogecoin’s price resume its rally to $1? Reverse head and shoulder mode has answers
Dogecoin price is being displayed Signs of potential breakthroughs As a reverse head and shoulder pattern, the classic bullish reversal indicator appears to be formed on the chart. The next few weeks Side mergerthis technical setting could indicate the return of Dogecoin’s upward momentum and the long-awaited steady upward surge of $1.
Dogecoin price chart signal indicates bullish reversal
Analysis of new technology by crypto market expert Klejdi Cuni suggestion That dog may be preparing for potential bullish measures as a textbook Head and shoulder diagrams It seems to be shaped on the chart. The current settings are formed in a lower time range, which indicates Bullish trend reversal Probably in progress.
While this $1 milestone remains elusive for meme coins, analysts’ forecasts suggest that the price of meme coins is above $0.23, a steady and rapid rise. If the bullish momentum continues and some resistance levels break down, then Finally pushing towards $1 to $1.
Currently, CUNI’s chart shows that Dogecoin’s price is now approaching the neckline of the inverse head and shoulder pattern, which represents a horizontal resistive wire that connects high to the shoulders. At the time of analysis, Doge’s trading price was $0.228, which is lower than Neck resistance.
A confirmation break above this collar may trigger a rally recovery. If this breakthrough occurs, the chart outlines two Potential upward goals. The first “fast target” is set at $0.239, consistent with the previously high-priced local resistance levels. After that, Doge is also expected to reach its $0.25 price target, with a stronger resistance level than previous thresholds.
Doji faces potential collapse after rally
In other news, crypto analyst Trader Tardigrade shares bullishness forecast For Dogecoin, prices are expected to leap in the near term. However, as an analyst, the rally may be short-lived Warn of a large number of price corrections Follow up and move upward.
Share for a month Dogecoin price chartTrader Tardigrade highlights the similarities of Meme Coin’s current setup to what it takes from 2014 to 2021. In the past cycle, Dogecoin Completed a round bottom A few years of accumulation phase, then breaking through above long-term resistance, moving upwards sharply, and then falling back in the form of a Wedge pattern drops.
The analyst confirmed that Doge has recently completed a similar cumulative phase and has damaged its critical resistance levels. If the historical pattern is repeated New historical high point Between $0.9 and $1.4. After the surge, Dogecoin may drop to $0.22 and $0.14 levels and may enter an extended consolidation phase in the landing wedge pattern, reminiscent of years of backtracking following its 2018 peak.
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