Dogecoin, the largest dog-shaped coin, has gained an attractive bullish trajectory Great interest and investor interest. Given the strong renewed bullish momentum, many cryptocurrency analysts believe that DOGE may continue to move higher towards higher levels, supported by bullish indicators.
The impending chart pattern fuels the bullish trend for Dogecoin
Following the current market rally, Rose Premium Signals, a technical analysis platform, took a deep dive into Dogecoin’s recent movements, revealing… Optimistic outlook in the short term. The platform Claims DOGE price action indicates an extension of its upward trajectory with a bullish pattern emerging on the daily chart.
Rose Premium Signals confirms that this technical formation is a good sign of ongoing momentum and the potential for a big rally in the near term. This formation identified as a double bottom pattern corresponds to rising market sentiment and investor interest in DOGE, which could send the memecoin rising to higher price levels.
According to the platform, Dogecoin It shows signs of a potential bullish reversal with the double bottom formation. As momentum builds for an additional uptrend, the price exits the descending channel pattern.
DOGE’s exit from the declining channel indicates its renewed strength, caused by the return of the general cryptocurrency market. Moreover, the classic recovery structure is in line with the breakout, indicating a strong rally towards key resistance levels.
Once Dogecoin begins its expected major rally, the platform has identified the next potential targets for DOGE at the $0.56261 and $0.63998 levels. Looking at the chart, Rose Premium Signals indicate that a rally may push the price Meme coin Furthermore, the price reached $0.70717, narrowing the gap from its all-time high of $0.73.
This development is capable of sparking optimism among investors and expectant traders DOGE’s next bullish breakout In the coming weeks. Meanwhile, DOGE continues to hover between $0.369 and $0.38, reflecting price stability.
DOGE is one of the most powerful in the current bull race
Although Doug It was not able to reclaim its all-time high or create a new peak, but it is still considered one of the best-performing crypto assets in the bull cycle. After a period of stagnation, Dogecoin regained its bullish momentum, leading to a rally above the pivotal price level of $0.35.
Speaking about its performance during volatile conditions, Daan Crypto Trades, market expert and trader says Highlight DOGE has held up stronger in this second market influx than most coins. While other major currencies such as Bitcoin and Ethereum After DOGE made new lows during this week’s flow, it produced a nice higher low and is once again trading within its local range.
Daan Crypto Trades expects Dogecoin to trade around $0.4 shortly before making another trip to the cycle highs. Therefore, he believes that the meme coin is one of the strongest currencies in the ongoing cycle.
Featured image from Unsplash, chart from Tradingview.com
