DOGE's RSI patterns and consolidation phases align with historical cycles, signaling a potential peak by January 20, 2025.
DOGE achieved a 93x gain in 2017, 300x in 2021, and 2024 projections indicate potential gains exceeding 300x.
Analysts foresee a bull run in 2024, potentially driving DOGE's trading value beyond $20.
DOGE's performance against BTC is drawing attention 254 days after the most recent Bitcoin halving. Observations from the DOGE-BTC weekly chart reveal patterns reflects those of the previous halving cycle. A closer look at the Relative Strength Index (RSI) indicates that DOGE might be between pivotal phases, often referred to as Step 2 and Step 3 in cyclical behavior.
Historical RSI Patterns and Current Developments
According to a chart by Master Kenobi, in the last halving cycle, the RSI remained above its moving average (MA) for 84 days before dipping below briefly. This phase preceded a significant surge in price momentum, marking the transition into Step 3.
Source: Master Keobi(X)
Recent data shows that the RSI has also spent 84 days above the MA before dipping below at a similar level. This alignment with past behavior adds weight to current observations.
Price Action Trends and Consolidation Phases
Examining price action, DOGE experienced a two-week decline against BTC, followed by sideways consolidation. This pattern mirrors historical behavior, where the duration between a local top and the next peak was 77 days. Applying this framework to the current cycle, the same interval has been identified as a key timeline for potential movement.
Based on these recurring patterns, consolidation is expected to last around 77 days from the most recent local top. This timeline places the next significant peak for DOGE-BTC around January 20, 2025. The projection is based solely on timing analysis without factoring in the potential value of DOGE at that stage.
DOGE 2024 Bull Run Targets $20+ With 300x Gains
Further research by analysts indicates that DOGE's performance has consecutively become larger, and prices look to be well in the process of delivering yet another monumental bull run, resulting in more than $20 in its trading value.Javon Marks's chart reveals that the 2017 cycle recorded a substantial upward movement, achieving a 93x increase in value. In 2021, the bull cycle produced a notable 300x price surge. The 2024 projection outlines a potential gain exceeding 300x, indicating a strong upward trend continuation
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