Dogecoin (DOGE) price pattern hints at repeat of previous bullish phase

Crypto analyst, MasterAnanda, has identified a recurring structure in the daily candlestick chart of Dogecoin (DOGE) that may be kicking off another major move.

MasterAnanda's Analysis Of Dogecoin (DOGE)

The analysis focuses on three low points (1), (2), and (3) that formed between July and October, each signaling a stage of price correction.

The third low is forming higher than the second, which bodes well for the potential of a major bullish impulse that takes Dogecoin (DOGE) towards the $0.50 level.

(1) lower low at $0.145 in July,

(2) higher low at $0.18 in August, and

(3) even higher low that is currently in the process of formation.

This structure is being completed as the $0.145 support zone has been tested three times in the past two months. There is a possibility that this zone will be tested again to complete the formation of the third low point before the price bounces back.

MasterAnanda Suggests Aggressive Buy and Hold During Retracement

If this pattern repeats, then Dogecoin (DOGE) may retest the zone at $0.145 to complete the formation of the third low before rebounding. However, MasterAnanda's advice is not conservative. In his post on TradingView, he suggests buying aggressively and taking every short-term price drop as a rare opportunity to buy.

If you can’t buy more, it is advisable to keep holding the asset. The last formation in 2024 resulted in a 380% surge to a multi-year peak of $0.48. If the same pattern repeats, a similar rise from $0.145 could push the price close to $0.70, which would take Dogecoin (DOGE) back to its all-time high range.

Minimum Price Expectation Above $0.4

Although MasterAnanda did not explicitly target an extreme number, he identified a move above $0.40 as a minimal expectation based on the current setup.

At the time of writing, Dogecoin (DOGE) was trading at $0.1695. Taking this analysis into account, investors may see this as an opportunity to participate in a potentially significant price increase in the near future.

Taking into account historical patterns and current technical analysis, Dogecoin (DOGE) is showing early signs of a bullish wave that may not only reach, but also exceed market expectations. For investors and crypto enthusiasts, this period may be a crucial time to consider their positions in Dogecoin (DOGE). As always, it's important to perform independent research and invest at your own discretion, taking into account your own risk tolerance and investment goals.output: Jakarta, Puntu News - Dogecoin (DOGE) is currently trading at $0.169, showing a decline after reaching $0.19 in late April. However, there is some potential for further major moves in the price structure being built by Dogecoin (DOGE).

Crypto analyst, MasterAnanda, has identified a recurring structure in the daily candlestick chart of Dogecoin (DOGE) that may be kicking off another significant surge.

Dogecoin price pattern hints at repeat of previous bullish phase

The analysis focuses on three low points (1), (2), and (3) that formed between July and October, each signaling a stage of price correction.

The third low is forming higher than the second, which bodes well for the potential of a major bullish impulse that takes Dogecoin (DOGE) towards the $0.50 level.

(1) lower low at $0.145 in July,

(2) higher low at $0.18 in August, and

(3) even higher low that is currently in the process of formation.

This structure is being completed as the $0.145 support zone has been tested three times in the past two months. There is a possibility that this zone will be tested again to complete the formation of the third low point before the price bounces back.

Analysts Suggest Aggressive Buy and Hold During Retracement

If this pattern repeats, then Dogecoin (DOGE) may retest the zone at $0.145 to complete the formation of the third low before rebounding. However, MasterAnanda’s advice is not conservative. In his post on TradingView, he suggests buying aggressively and taking every short-term price drop as a rare opportunity to buy.

If you can’t buy more, it is advisable to keep holding the asset. The last formation in 2024 resulted in a 380% surge to a multi-year peak of $0.48. If the same pattern repeats, a similar rise from $0.145 could push the price close to $0.70, which would take Dogecoin (