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Dogecoin seems to be prepare oneself for The next important step, with a well -known price structure that appears on its price chart. According to Crypto Analyst (BasictradingTV), the meme -Munt plays a trend of completion base patterns and parabolic rallies, who have always sent his price Highlights for all time. The current set -up suggests that the continuous recovery of Dogecoin compared to the Low in March may not only be a temporary leap, but there is a 100% chance that it is the start of a much larger parabolic rally.
Dogecoin acts in a well -known cycle: 100% chance of rally
By the Core of the bullish prognosis Is the repetition of a well -known price pattern, the rounding floor. Dogecoin is known for the trade in perennial cycles that start with gradual soil formation, which ultimately leads to explosive rallies. This pattern, visible on the graphs in the longer term, has been reformed in recent months.
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As shown in the monthly Kandelaart period below, the completion base took place during the time period between Dogecoin’s All-Time High in 2021, the Bear Market in 2022, and the recovery phase at the end of 2024. The recovery led Dogecoin to have been pushing new highlights since 2021, since 2021. This time, however, the expected parabolic rally was temporarily interrupted by a strong resistance zone.
After reaching highlights around $ 0.48 in December 2024, Dogecoin saw a rejection that saw its price on a correction path until the beginning of March reached $ 0.1477. But instead of breaking below, this level acted as a solid support. Since then, the price has returned somewhat and has been restored Up to $ 0.2 at the time of writing. With this in mind, the analyst predicted that the bullish cycle is intact, with the parabolic part of the pattern that is expected to unfold soon.
Monthly candle must close above the support
At the moment, the most important step for Dogecoin is to close his monthly candlestick for March above the most important support level that was established during the recent market correction. If this is successful, it will 100% certify that a bullish parabolic rally will follow. The analyst also pointed to two important levels for Dogecoin in the coming weeks and months: $ 0.15 and $ 0.5. The level of $ 0.15 was tested earlier this month during the sharp withdrawal of Dogecoin, when the price dropped to just $ 0.1477.
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$ 0.15 now acts as the level of support That shouldn’t be broken. The longer Dogecoin test this support level, the longer the delay for the parabolic rally. Fortunately, the recovery from that zone has added technical force to the argument that buyers will intervene at that level.
In the meantime, $ 0.5 is identified as the primary resistance purpose for itself. Break the resistance will confirm the start From a fully -fledged parabolic rally, similar to the one who sent Dogecoin to his all time in 2021. At the time of writing, Dogecoin acts at $ 0.2052, an increase of 10.8% in the last 24 hours.
Featured image of Unsplash, graph of TradingView.com
