Ascending Triangle On 2-Hour Chart Shows DOGE Is Still Very Bullish
cryptocurrency analyst Chris Parks Providing a bullish outlook for the price of Dogecoin, recent times indicate that the most important meme coin remains very bullish. DOGE is currently in a consolidation phase, having risen sharply between October and early November.
Dogecoin Price Still Very Bullish Despite Recent Cooldown
in the most recent X postsKrissPax said that despite the recent cooling, Dogecoin prices are still very bullish. Cryptocurrency Analyst Says Dogecoin Trading on 2-Hour Chart Is Classic ascending triangle pattern. He added that the pattern looks bullish, with a flat resistance line at the top, higher lows and even a leverage rush happening.
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KrissPax is not the first to highlight an ascending triangle pattern on the DOGE chart, which offers a bullish outlook for Dogecoin price. cryptocurrency analyst French capital The community has also recently drawn attention to this bullish pattern, with suggestions that Dogecoin could rebound to $0.56 after breaking out of this consolidation triangle.
Dogecoin price has been consolidating in a $0.4 range since its parabolic rise from October to early November. However, cryptocurrency analysts like Master Kenobi And Kevin Capital said that despite the cooling-off period, the price movement of meme coins is expected and remains in bullish territory.
According to these analysts, Dogecoin price consolidated during the last bull run after the first for about 25 days before rising again. History seems to be repeating itself, as this time the most important meme coin has consolidated for a similar number of days.
This consolidation period may be coming to an end soon, as Dogecoin price has been cooling off for about 25 days this time. In line with this, Master Kenobi predicts that Dogecoin may rise again in the coming days, rebounding to $1 and eventually reaching highs of $2.9.
DOGE’s next step will be “violence”
cryptocurrency analyst Brents Capital Predicting the next rise in Dogecoin price will be explosive. He said in an The chart he attached shows that the most important meme coin will reach $0.6 on the next rise.
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This expected rise will bring Dogecoin price closer to its current all-time high (ATH) of $0.73. Cryptocurrency Analyst Crowe It also gave a bullish outlook on Dogecoin, stating that market participants should not fade away from Dogecoin. The chart he attached shows that the meme coin may even break out of its current top levels on its next leg up.
According to data, as of this writing, Dogecoin is trading at $0.43, down more than 4% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
