Dogecoin Price Completes First Bull Phase Similar To 2021, Here’s What Comes Next
cryptocurrency analyst Chris Parks It was revealed that Dogecoin price has completed the first part of the bull market phase, similar to what happened in the 2021 bull market. The analyst further provided insights into what’s next for Dogecoin.
Dogecoin price completes first bull market stage
KrissPax mentioned in X post that Dogecoin price has completed the first rising phase of this bull cycle, similar to 2021 and 2017 bull market. He noted that the previous cycle recorded two additional phases of upswing with huge percentage gains. Based on this, Dogecoin is likely to go through two more rising phases before peaking in price this market cycle.
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The cryptocurrency analyst calls for patience on Dogecoin price as it moves slightly sideways, possibly until the next upward phase begins. cryptocurrency analyst Ali Martinez It was also mentioned how Dogecoin will test the patience of market participants during this parabolic run. He added that just like in 2017 and 2020, TD Sequential has shown a sell signal, which could lead to a brief correction before the bull rally continues.
At the same time, in the previous analysis, Insights provided by KrissPax How high can the Dogecoin price reach in this market cycle, and what levels could mark a local top for the remainder of the uptrend. The cryptocurrency analyst predicts that Dogecoin could reach $3 during this bull run. However, he said the first step is for DOGE to reach $1.
Therefore, the next rising phase could lead to Dogecoin price rising to $1. Once completed, the next upward phase could be a rally to $3, as KrissPax predicts. However, Martinez’s chart shows a channel that, if DOGE reaches the upper limit of the channel, could cause it to bounce back to $14. The midpoint of the channel puts Dogecoin just above $1.5.
It’s almost time for the next stop
cryptocurrency analyst Kevin Capital Indicating that Dogecoin price is almost time to enjoy its next rise. In an X post, he stated that Dogecoin has been consolidating for long enough and that the meme coin has also reset some key indicators on the daily time frame. In line with this, he believes Dogecoin will start moving higher.
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The crypto analyst added that the next step will give market participants a good idea of the macro top for Dogecoin price. cryptocurrency analyst Master Kenobi Indicating that Dogecoin’s next stop will come unexpectedly. He stated in the X post that when it happens, it will happen quickly.
The chart he attached shows that Dogecoin price will break above current levels All Time High (ATH) The next leg advanced and reached a high of $1.08.
Dogecoin price is reportedly around $0.42 at the time of writing, up more than 5% in the past 24 hours data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
