Here’s What The 91-Day Pattern Says Could Happen Next
cryptocurrency analyst Master Kenobi The 91-day pattern is mentioned again to provide insights into where Dogecoin price will go next. Analysts say things may be different for Dogecoin, as its price action hasn’t exactly followed this historical pattern.
What’s next for Dogecoin price
in a X postsMaster Kenobi suggested 91 day sequence This scenario may no longer be valid for Dogecoin price. He explained that the chart only touched the green trendline and failed to break above the yellow or orange trendlines. This green trendline is located at $0.46, which is where DOGE price hit last week.
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However, Dogecoin price failed to touch the yellow or orange trend lines, which are around $2 and $4 respectively. Prior to this, cryptocurrency analysts predicted that Dogecoin could Breaking through $1 As the 91-day pattern completes, it hits at least $2 this month. Meanwhile, Master Kenobi also explained why Dogecoin’s closing rally last week was significant.
The cryptocurrency analyst noted that the weekly closing gain marks the eighth consecutive week of price gains for Dogecoin, the second time this has happened. Statistically speaking, Master Kenobi believes this is not the most beneficial configuration for DOGE price, suggesting that the most important memecoin may be in uncharted territory.
However, according to Master Kenobi’s earlier Dogecoin price update, Dogecoin is in the green for the eighth consecutive week and is worth watching. The last time this happened was in the finals 2017 Bull Marketa rally that began in November and ended in January saw prices increase by 1,750% during this period.
Therefore, if history repeats itself, Dogecoin price could still record significant gains. In November, the price of DOGE increased by 161%, providing a bullish outlook for the most important meme coin. Meanwhile, the December candle is currently green, although DOGE has yet to come close to November’s gains.
DOGE is still far from a price breakout
cryptocurrency analyst Kevin Capital It is asserted that Dogecoin price is still far from a breakthrough. In making this statement, he revealed that DOGE is currently in a macro gold pocket, above 0.703 and 0.786, extending to $0.60.
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In line with this, cryptocurrency analysts say that anything price action Trading below $0.60 should be done with extreme caution as Dogecoin is far from seeing any kind of breakout. Kevin also called on market analysts to cease their endless excitement as the price of Dogecoin is nowhere near the level expected to break out.
As of this writing, Dogecoin is reportedly trading at around $0.44, down nearly 4% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
