The well-known dog-themed meme coin, Dogecoin (DOGE), is expected to reach $1 in value. According to cryptocurrency analyst Ali Martinez, who took to X, there are important technical analysis patterns that are showing up on the weekly chart.
As the price of Dogecoin (DOGE) seeks to break out from its protracted consolidation of over 875 days, which has seen the price of DOGE plummet from $0.74 to as low as $0.050, Ali’s prediction is predicated on comparable historical price trends reemerging.
Weekly Chart Shows Bullish Pattern in Dogecoin (DOGE)
Ali Martinez expounded in his X post regarding the reemergence of a pattern from previous Dogecoin (DOGE) price trends on the weekly chart. He continued by demonstrating that before the price rises above $1, there may be some consolidation after the Dogecoin (DOGE) breakout.
Based on technical analysis (TA), Dogecoin (DOGE) price has broken out of a bullish ascending triangle on the weekly time frame and is on the verge of a massive rally as such price action was evident in past bull markets. It looked like it was ready.
After breaking out of this bullish pattern, Dogecoin (DOGE) price remained between $0.16 and $0.20. If the price of Dogecoin (DOGE) rises above $0.35 again, as analysts have predicted, the price could skyrocket.
Ali’s predictions seem too good to be true to many, but he has seen Dogecoin (DOGE) rise more than 10,000% in previous cycles, and this pattern holds true as speculated. they cannot ignore the fact that it may develop.
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