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Dogecoin Price- Repeating Chart Structures Signal Bullish Outlook
Dogecoin Price– Interest in Dogecoin (DOGE) is building as technical analysts highlight repeating historical patterns that could lead to a major upward move. A chart shared by CryptoElites shows that past rallies have often begun with a symmetrical triangle formation, followed by a steep breakout. These triangles usually mark consolidation phases, and each breakout has led to significant gains.
If this recurring setup holds true, analysts suggest a possible long-term target as high as $5, though this depends on broader market alignment and momentum.
Heikin Ashi Chart Shows Bullish Consolidation
Further technical insights from Trader Tardigrade focus on the 4-hour Heikin Ashi chart, where a second triangle has formed after an earlier breakout. This narrowing pattern typically signals a buildup before a potential surge. The price is now hovering near $0.194, and if it breaks above the short-term resistance line, a move toward $0.203 could be imminent.
Price above the active ascending trendline at $0.194 confirms the structure’s validity.
Retest Strengthens Bullish Breakout Scenario
On lower timeframes, DOGE has retested the upper edge of the triangle near the $0.191 level after a breakout. This retest, viewed as a confirmation of support, increases the confidence in the current bullish structure. Successful retests are often seen as a sign that former resistance has turned into support, laying the groundwork for the next move.
Short-Term and Long-Term Projections Align
In the short term, breaking above $0.203 is the immediate target for traders. If sustained, this could build momentum for DOGE to revisit prior highs. Long-term projections, based on historical patterns, place $5 as a possible macro target — though this would require sustained demand and positive sentiment.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
