Dogecoin Price Could Rally To $2.5, Analysts Predict
Crypto analyst Elalemiami has proposed that DOGE may record a significant upward movement after touching the Gaussian channel at $0.39. This is likely because DOGE saw a major price surge during its last encounter with the Gaussian band during the 2021 bull run. According to Elalemiami’s chart, the price targets for the cryptocurrency may rise to $2.5 to $3 in the next year if the market continues to be bullish.
Further boosting the optimism, Trader Tardigrade pointed to a bull flag pattern on DOGE’s chart and the fact that the asset is trading above its 28-day exponential moving average (EMA). The analyst has projected a short-term upside to $0.7 before a potential reversal to the downside.
Other analysts, like Kevin Capital, have, however, given a word of caution that DOGE has breached an upward support trendline and is likely to be confronted by serious resistance levels at $0.49 and $0.53-$0.60.
