In the broader crypto market witnessing a bullish reversal, the Dogcoin price is again looking to recover The psychological level of $ 0.2. Crypto analysts such as Master Kenobi have suggested that the leading meme coin has preceded to reach new highs.
Dogecoin Price Ready to Breakout from Falling Wedge
In a X postCrypto analyst Tardigrade said the dogcoin price shows a breakout from a falling wedge. It came as he announced that a bullish cross took place in the stochastic Relative Strength Index (RSI) Biweekly chart. His companion chart showed that the Doge could break above the $ 0.2 price level in this move.
Noticeably, in another x post, Trader Tardigrade Predicting that the price of dogocoin can easily miss the price of bitcoin. The analyst announced that the current on-balance volume pattern (OBV) on the DOGE/BTC chart reflects the preceding. He added that this pattern appeared before the leading meme coin that the Crypto flagship was released from October to December 2024.
Crypto analyst said given that both price action and indicators show the same pattern, he believes The price of dogecoin Closely “drastically” outperform bitcoin. DOGE will enjoy the massive gains if it resembles price performance from October to December 2024. The meme coin has not changed for most of 2024 but ends the year at a high as it continues to record the most year-to-date (YTD) benefit to the top 10 cryptos by market cap.
Trader Tardigrade also believes that another bull run may be close for the Dogecoin price. He announced that the dog was broken into the circle under this cycle. Based on this, he insisted that a “massive” bull run was near for the top meme coin. His companion chart showed that the Doge could reach as high as $ 2.8 when it recorded the massive Bull Run.
Update the Doge Macro chart
In an x post, Crypto analyst Master Kenobi Provides an update on the MacRO chart for the Dogcoin price. He said the Macro chart and a comparison of the current adjustment to the situation in 2017 shows that the meme coin has all the necessary components for a “massive” pump.
The Crypto analyst also revealed that the 21-day EMA in the 3-day chart indicates that the price of Dogecoin's current perspective is bullish. He said that additional factors such as bullish change and the breaking of the trend to Relative Strength Index (RSI) This view of bullish will also boost. It is worth mentioning that the analyst recently predicted that the leading meme coin could rally at a new all-time high (ATH) in June.
At the time of writing, the dogcoin price traded around $ 0.18, until the last 24 hours, according to Data From CoinMarketCap.
Featured image from Getty Images, chart from tradingview.com
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