Bull Flag Formation Puts Dogecoin Price As High As $2.15 This Cycle
December 14 2024 - 3:00PM
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Crypto analyst Trader Tardigrade has highlighted a bullish pattern
that has formed on the Dogecoin price chart. Based on this pattern,
the analyst predicted that the Dogecoin price could reach as high
as $2.15 in this market cycle. Bull Flag Puts The Dogecoin
Price Target At $2.15 In an X post, Trader Tardigrade revealed a
bull flag that had formed on DOGE’s daily chart. He stated that
there is a tight consolidation within the bull flag. The analyst
added that a long flagpole projects the Dogecoin price target at
$2.15. Interestingly, his accompanying chart showed that the rally
to this target could happen before the year ends. Related
Reading: XRP Price Breakout Above $10: Analyst Tells Community To
Pay Attention To This Fractal The Dogecoin price could be
well-primed for this rally to the upside. In another X post, Trader
Tardigrade stated that a possible Dogecoin scenario has come up
with a double-bottom chart pattern. He added that DOGE had formed
two equal lows with a resistance at the neckline, which is at
around $0.46. Meanwhile, the crypto analyst also recently
stated that the Dogecoin price has gained more buying power with a
bullish crossover on the moving average convergence/divergence
(MACD). His analysis suggested that Dogecoin could break this
resistance at $0.46 and rally to around $0.5 on the next leg of the
DOGE bull run. This rally to $0.5 could just be the start of
the projected rally to $2.15 based on the bull flag on the Dogecoin
price chart. It is worth mentioning that Trader Tardigrade has
before now provided more bullish predictions for Dogecoin in this
market cycle. The analyst predicted that DOGE could reach as high
as $30 in this cycle while advising market participants to start
taking profits around $10. What The Next Move Could Look Like
Crypto analyst KrissPax provided insights into what the next move
up for the Dogecoin price could look like. He stated that following
the double-bottom pattern on DOGE’s chart, a fractal from past
price action shows a possible move up through Monday, followed by
an upward trend until Christmas. However, the crypto analyst
cautioned that there will be dips along the way. Related
Reading: Bitcoin Price Dominance And Altcoin Season: What The
Sudden Volatility Means For The Market Meanwhile, like Trader
Tardigrade, KrissPax also highlighted the bull flag that has formed
on DOGE’s daily chart. He stated that this bullish pattern points
to the Dogecoin price reaching $0.69 by the end of the year. This
would break Dogecoin close to its current all-time high (ATH) of
$0.73. Crypto whales look to be positioning themselves for
this Dogecoin price rally. Crypto analyst Ali Martinez revealed
that these investors bought 160 million DOGE in 24 hours. At
the time of writing, the Dogecoin price is trading at around $0.4,
up over 1% in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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