If Dogecoin Mirrors Last Cycle, Surge To $4 Begins At Week’s End
Dogecoin (DOGE) has entered a consolidation phase after a sharp rise of more than 200% in the first two weeks of November. Cryptocurrency Analyst Kevin (@Kev_Capital_TA) suggestion This could be the calm before the storm, hinting at a potential spike similar to previous market cycles.
Will Dogecoin Head to $4?
Kevin pointed out that during Dogecoin’s last cycle, the meme coin consolidated for 24 days after its first major rise before rising again into what he described as a “macro gold pocket” – a price range between $3.80 and $4.00. time, consistent with the 1.618 Fibonacci extension level. He believes that if DOGE follows similar trajectoriesthe price is likely to surge towards the end of the week and potentially hit a new all-time high (ATH) by the end of the month.
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“In Dogecoin last cycle When it first rose sharply, the stock consolidated for 24 days before rising again into macro gold pockets. If DOGE follows a similar path, that means the next round will begin at the end of the week and DOGE will begin its macro gold pocket path at $3.80-$4.00,” Kevin said.
However, he tempered expectations by admitting that such an astronomical performance would be difficult to predict: “Even though it will be astronomical, it’s very difficult to make a decision like that. Let’s start making a new one by the end of the month.” ATH, as I predicted in September.”
The current price situation of Dogecoin is crucial. While analyzing the DOGE/USD daily chart, Kevin observed that DOGE is “aggressively testing this major trend support line on the daily RSI.” A breakout of this support could “accelerate the downside.” If possible, the Bulls hope this continues. “
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He added that while the RSI trendline held steady at the daily close, “it needs to bounce back now if we’re going to hold it.” The impact on Bitcoin (BTC) price action could be crucial: “If BTC can move higher , will save us,” he noted.
Bitcoin itself has consolidate Since reaching $99,588 on November 22, it has reportedly been trading between $90,800 and $98,500. Kevin described a “tug of war between price action and the indicator’s downward momentum,” as the daily MACD showed that price was not reflecting increased downward momentum. He stressed that “one of them will win in the end.”
On the 4-hour BTC/USD chart, Kevin highlighted a symmetrical triangle pattern near the apex, indicating that a breakout is imminent. Despite recent volatility, “BTC has yet to break out or even close a 4-hour candle below this trendline,” indicating strong support.
He also pointed to liquidation levels at around $100,000, stating that “it’s only a matter of time before BTC decides to accept liquidity at $100,000.”
This move by Bitcoin could signal Dogecoin’s next major price increase, in line with the pattern observed in the previous cycle. Kevin’s analysis shows that the interaction between Bitcoin and Dogecoin prices remains a key factor in predicting where the market will go next.
At press time, DOGE was trading at $0.4194.
Featured image created using DALL.E, chart from TradingView.com
