Why The Next Wave Is Bearish And Could Drop To $0.15
Cryptocurrency analyst Behdark provides an in-depth analysis of Dogecoin’s current price roadmap All Time High (ATH) $0.75. In his analysis, he explains why Dogecoin could still experience a major correction before rallying back to its current highs.
Dogecoin Price Is Next Bearish Wave
in a Transaction View PostBehdark said that Dogecoin price appears to be entering an F wave, which is a bearish wave. The cryptocurrency analyst noted that previously correction wave The duration of this diameter is between 196 and 347 days, so this wave of F is also expected to last between 196 and 347 days.
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The chart attached by the analyst shows that Dogecoin price could drop to As low as $0.15 In this wave of F correction trends. Similar to waves B and D, analysts say this corrective wave is expected to be highly volatile. Based on a timeline of 196 to 347 days, this correction wave may not end until sometime in November 2025.
Once corrective wave F is completed, Dogecoin price will transition to wave G. Behdark said Wave G will be a bullish wave that could lead to a new ATH. The accompanying chart shows that Dogecoin could reach around $0.8 on this impulsive rally. However, the much anticipated 1 dollar psychological price It’s still possible to get away with the all-important meme coin.
Meanwhile, the crypto analyst added that a weekly candle below the $0.12 invalidation level would invalidate buying prospects in the green zone between $0.15 and $0.20. Considering cryptocurrency analysts like tardigrade merchant It is predicted that Meme coins may rise to double digits by mid-2025.
Behdark’s analysis also suggests that the price of Dogecoin is unlikely to reach $1 during this market cycle, a target that market participants have been focusing on since Dogecoin began its parabolic rise in October-November.
The four-year cycle is still in play
cryptocurrency analyst Chris Parks provides a more optimistic outlook for Dogecoin prices, pointing out that the four-year cycle is still in play. The analyst cited Dogecoin’s historical pattern of taking off in January 2021 after an uptrend in late December 2020. He then raised the possibility that this historical trend could repeat itself again.
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cryptocurrency analyst Master Kenobi He also previously suggested that Dogecoin price may rebound in January 2025, as he mentioned the historical pattern of a 2021 bull market. The cryptocurrency analyst believes that Dogecoin may reach new highs around the time of Donald Trump’s inauguration, especially with the formation of the Department of Government Efficiency (DOGE) following Trump’s inauguration.
Dogecoin price is reportedly around $0.31 at the time of writing, down nearly 2% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
