Why the price of Dogecoin is still able to hit a rally of 600% to send it above $ 1.5
According to analysis by Ethernet, the current Dogecoin Price chart is creating a clear pattern that could lead to a major breakout. The price setup suggests that if dogecoin breaks past the key resistance level, a 600% rally could follow. If the momentum continues to grow, Dogecoin may see a strong rally that could send its price above $1.5.
The Dogecoin Price Chart shows an ancient cup and bearer pattern
The analysis of Ethernet in the outstanding X is that there is something clear Cup and handle composition on the Dogecoin linear chart. Analysts see the formation as a classic pattern that is often linked to bullish price breakouts in bullish analysis. The “cup” part of the formation shows how the price of dogecoin broke the previous low, while the “handle” invites a short or pull cam before the next move higher.
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Currently, Dogecoin is moving within this management phase. Analysts are watching closely because this phase often comes before a big crack. If dogecoin completes the holding phase again it clears the resistance At $0.20, a big price increase could follow.
The photo is a chart shared by Ethernasyonal and shows that the curve of the cup and the small dip of the handle are well made. It suggests that Dogecoin may be close to completing this phase. When the price splits The handle, a large rally can begin, and buyers may press the highest price.
Cracking can create huge profits for $1.5
Ethernet explained that large movements will be avoided after the price breaks out of the management stage. It means that when Dogecoin crosses the upper resistance of the handle, strong momentum can drive the price even higher. It depends on the settingthe movement can extend above the $ 1.5 Mark.
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The reason behind this idea is that the formation often acts as a signal for a long and confirming rally once it is confirmed. As the pattern completes, buying pressure tends to intensify, pushing prices up. At the price of Dogecoin, this would lead to a gain of about 600% from current levels, it would be a masteve Bring back the vendors and managers.
Ethernet’s recognition of this clear cup and management structure shows why hope is growing almost with dopocoin again. The Dogecoin Linear chart shows the strong strength of the A decisive move up If the crack occurs above the handling resistance. At the moment, analysts continue to watch the cup handle section and handle the pattern closely, waiting for the confirmation of a move that could change Dowhoin’s price direction.
If Ethernasyonal’s analysis plays out, the price break could mark the start of one of Woinecoin’s biggest uptrends at the moment, one that could send it rising well above $1.5 and confirm its long-term strength bullish pattern.
The featured image is made with DALL.E, a chart from ChattingView.com
