Dogecoin Gaussian Channel Turns Green On The 4-Hour Chart, Why A New ATH Above $1 Is Imminent
Back in December 2024, Dogecoin price entered Gaussian channel As Bitcoin suffered multiple crashes, the price dropped sharply. However, while Dogecoin’s entry was triggered by bearish forces, Dogecoin’s entry into the Gaussian Channel is bullish and shows a tendency to recover quickly from losses. This is because the Gaussian Channel can serve as a bounce point, potentially sending DOGE surging to new all-time highs.
Dogecoin Gaussian Channel Flashing Green
Over the past few weeks, the price of Dogecoin has been moving within a Gaussian channel, showing bullish signs but has not yet fully completed the move. However, this is starting to change as the Dogecoin Gaussian Channel turned green for the first time.
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Dogecoin Gaussian Channel, According to Cryptocurrency Analyst Trader Tardigrade Flashing green light recentlythis happens on the 4-hour chart. This development suggests a potential breakout of the channel that has been ongoing for the past three weeks. This also signals the start of a possible rally that could push the price to the coveted $1 level.
The initial target for Dogecoin price is $0.5. Due to the recent peak, the biggest resistance Dogecoin price currently faces is $0.5. Once resistance is breached, analysts’ charts suggest a sharp continuation that could push prices higher.
The top of the breakout is a $1.4 target, more than 200% from current prices. The target was in line with analysts’ forecasts Previous predictions for DOGEsaying the leading meme coin is about to hit an all-time high.
Analysts bullish on DOGE price
Although the December 2024 crash sent Dogecoin price back down, Cryptocurrency analysts remain quite optimistic On the meme coin. Cryptocurrency Analyst Dima James shared In December, Dogecoin prices may hit double digits this cycle.
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James used historical data to support his prediction, showing that DOGE has a history of significant gains. These surges mostly occur in 4-year cycles, with the last big surge occurring in 2021, meaning 2025 is the next in the 4-year cycle. If this is correct, DOGE prices could hit an all-time high in the first quarter of 2025.
In another analysis NewsBTC reportsOne cryptocurrency analyst predicts that DOGE price could rise to $5 and predicts a 1,500% rise for the meme token. This time, analysts are targeting March to April, giving just a few months to realize this forecast.
As of this writing, Dogecoin is trading at $0.383, 48% below its all-time high of $0.7376 set in May 2021.
Featured image created using Dall.E, chart from Tradingview.com
