Dogecoin's price seems to be set to witness a breakout above the psychological level of $ 1, which has broken a resistance trendline. Crypto analyst Trader Tardigrade Provided a timeline for when this massive advances could occur as Doge Rally at a new all-time high (ATH).
Dogecoin Price of Eye Rally above $ 1 Following Resistance Trendline Breaking
In a X postTrader Tardigrade foretold that dogcoin prices could be rallied above $ 1 following a break above the resistance trendline. He announced that the Doge was broken from a mid-term Resistance trendline While noticed that there is no sign of a wrong break.
He added that this price movement was very similar to those in February 2024, when there was a massive advance after a period of momentum buildup.
Accordingly, he insisted that if The price of dogecoin Performing a similar buildup, then a massive progress can occur in May 2025, with a coin meme of over $ 1 mark. His companion chart showed that the Doge had raw from around $ 0.09 to a high $ 0.18 at the last time it witnessed a similar momentum buildup.
In another X post, he also provided a bullish outlook for Dogecoin price. Analyst confirmed that DOGE'S WYCKOFF accumulation Not missed. Trader Tardigrade noted that in Phase C, a trial followed in spring, a transfer of signature to Wyckoff accumulation.
Meanwhile, Phase D featured some low support points (LSP), signs of strength (so), and back-up (BU). He added that once the Dogecoin combined around the $ 0.18 range, it would enter the Phase E to complete the pattern and launch a massive rally for the meme coin. Dogecoin prices are expected to reach $ 0.26 in phase E before it rallies with new highs.
Doge is well performed in this cycle
In an x post, Crypto analyst Kevin Capital It is stated that dogcoin prices have already performed “extraordinary” in this cycle, considering the macro conditions of high interest rates, reduction of money supply, high inflation, and tightening volume. Based on this, he hopes to do the Doge better when the financial easuring policies begin to explore.
He predicted that the dogcoin price could rally by at least $ 3 when there was an increase in money supply and a reduction of interest rates, with the Fed expected to begin to cut off June and July rates. The analyst noted that there is also lower inflation, which is evident through the Trueflation indicator.
Therefore, the volume of tightening policies will likely end soon, which is bullish for the leading coin meme. It is worth mentioning that the dogcoin price moved forward to the current local high $ 0.45 after the Fed Cut Interest Rate Last year.
At the time of writing, the dogcoin price traded around $ 0.18, up to 3% in the last 24 hours, according to Data From CoinMarketCap.
Featured image from UNSPLASH, chart from tradingview
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