The long term for the encryption analyst Technical analysis of the price of Dukwin It highlights the frequent historical style of 2021. The analyst suggests that if the Doug price is completely reflecting this trend, this may lead to an increase of more than $ 10.
The price of Dogecoin follows the repetition of market courses
Dima Pots, a former X -TWTTER encryption analyst (Twitter), subscriber A publication deepens in The current and historical Dogecoin workThis indicates the possibility of a large upward trend. Pots highlighted a plan for Dogecoin on the weekly timetable, indicating Meme Coin’s price movements within an upward channel.
The chart details are a frequent pattern in which Dogecoin simulates a similar cycle style every few years. Each session begins with a trial Accumulation The most prominent of which are red and green curves in the plan, followed by a A big outbreak This leads to a significant increase in prices. After every height of the equivalent price, the Mimi currency recovered and entered another accumulation stage before trying another.
In the price scheme, the white lines represent Long -term upward channelAnd that Dog was circulated during the year 2014. Historically, Dukwin wore from the lower white trend line several times, which led to a Increase the main pricesWhich witnessed the Mimi currency struck the white upper lines. Interestingly, the cryptocurrency has reached the fourth white white trend line in the bull cycle.
In 2017, Dogecoin achieved the lowest rising line, which led to a rise in the price of about $ 0.01 in 2018. A similar movement occurred in 2021 Taurus MarketAs Dog reached the lower direction line and rose to ATH in the same year.
Fast forward to the current bull cycle. Pots notes that the current rate of the current prices of Dogecoin indicates that he is again in the lower direction line. if Historical trends are repeatedIt is expected that the cryptocurrency will start in contrast Equivalent.
Dog is expected to reach 10 dollars
In his analysis, Botts notes that a task Displacements of upward prices It often happens every four years, including during 2017 and 2021 sessions. Based on this direction, The current market structure for Dogecoin It shows a strong possibility that the upward step is imminent.
His scheme shows that in each cycle, Dogecoin hit the upper border of the channel, which indicates an increase in the highest point of that time. If this trend will happen again, Dogecoin can follow the path of a long -term upward channel and perhaps It reaches its highest levels ever Above 10 dollars.
Given that Meme is still trading less than one dollar, this prediction of prices may seem somewhat ambitious. Coinmarketcap data shows that the price of DOGE is currently sitting at $ 0.17, highlighting a 40 % price collapse. The performance of Mimi’s currency during the past week was downward, paid The shrinkage of the broader market And fluctuation. However, analysts like Pots are still optimistic about the future expectations of Mimi currencies.
Distinctive image from Unsplash, Chart from TradingView.com
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