May be the price of Dogecoin Poised for a big reboundas a familiar long-term pattern appeared on his chart. According to technical analysis, the structure looks almost identical to the setup that led to a major breakout in its previous cycle, from 2023 to 2024. With Dogecoin currently at a crucial support level that once marked the beginning of its recent sustained rise, the cryptocurrency analyst predicted that the meme could enter a phase A new upward phasepotentially taking it above $1.
The previous pattern portends a rise in the price of Dogecoin to $1
Cryptocurrency analyst Trader Tardigrade has anticipation That the price of Dogecoin may soon rise to $1.10 from the current $0.15 this cycle. In X’s recent post, he highlighted this Dogecoin weekly chart It settled on the support trend line for the third time in the current 2021-2026 cycle.
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The chart shows that DOGE price reached this key level after a while Hold back for a long timecreating a structure similar to the one that formed in late 2023. At the time, this pattern marked the beginning of a slow but steady uptrend that continued throughout 2024, eventually creating the peak of the mid-cycle range for the meme coin.
Historical comparison between the 2023-2024 cycle Current session Clear on the analyst’s chart. In the previous session, Dogecoin completed three closes at the support area before reversing sharply to the upside. The latest weekly pattern reflects the exact alignment, with the price tightening around the rising trend line while forming higher lows.
Trader Tardigrade also noted that the previous cycle’s slow uptrend started from the same setup. It is worth noting that the chart highlights a large boxed area representing the expected phase from 2024 to 2025, where the widening price structure indicates that Dogecoin can still… You have room for upward movement. If historical patterns repeat as expected, the meme could trigger another pattern Strong leg up to above $1 By 2026.
Dogecoin’s bullish hypothesis is strengthened after the channel outage
The Tardigrade Merchant also has it Highlight Significant improvement on the lower time frame chart of Dogecoin, indicating a shift from a downward trend. The 2-hour chart shows a breakout Descending channel Which previously controlled price movements during the recent decline of the meme coin. A breakout is visible when the white price line pushes above the upper border of the down channel, indicating a potential shift in short-term momentum.
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According to Trader Tardigrade, technical indicators such as Relative Strength Index (RSI) The Moving Average Convergence-Divergence (MACD) supports this shift. While the RSI has broken above the resistance area,… Macd The chart shows a build-up of positive momentum, with the bars expanding upward.
The analyst explained that Dogecoin often begins its biggest bullish rallies with early signals on LTF before spreading to higher time frames. With momentum rising, Tardigrade trader believes that DOGE price may actually start an uptrend.
Featured image from Getty Images, chart from Tradingview.com
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