The report from cryptocurrency analyst Master Kenobi indicates that the current trend of Dogecoin is remarkably similar to the bull market cycle of 2021. Notably, there is an astonishing similarity observed 238 days after the Bitcoin halving. According to his analysis, Dogecoin is predicted to close this week with a red candle, followed by a potential rise for two consecutive weeks, and a significant price increase before the end of the month.
Another analyst, Kevin Capital, emphasizes that the daily chart of Dogecoin shows the formation of a hidden bullish divergence. This phenomenon requires support from Bitcoin's price to complete. He believes that this technical indicator is a strong market reversal signal, indicating that Dogecoin has the potential to break through its historical high of $0.73 in the short term and even climb to $1.70.
