Crypto analyst Trader Tardigrade has highlighted a bullish pattern that has formed on the Dogecoin price chart. Based on this pattern, the analyst predicts that the price of Dogecoin could reach as high as $2.15 in this market cycle.

Bull Flag Sets Dogecoin Price Target at $2.15

In a post on X, Trader Tardigrade revealed a bullish flag that has formed on DOGE's daily chart. He stated that there is a strong consolidation within the bullish flag. The analyst added that a long flagpole forecasts a price target for Dogecoin of $2.15. Interestingly, his accompanying chart shows that the rally to this target could happen before the year ends.

The price of Dogecoin may be well-prepared for this bullish run. In another post on X, Trader Tardigrade stated that a plausible Dogecoin scenario has presented a double bottom chart pattern. He added that DOGE has formed two equal lows with resistance at the neckline, around $0.46.

Meanwhile, the crypto analyst recently also claimed that the price of Dogecoin has gained additional buying strength with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggests that Dogecoin could break this resistance level at $0.46 and rise to around $0.50 in the next leg of the DOGE rally.

This rally up to $0.50 could just be the start of the anticipated rally to $2.15 based on the bullish flag on the Dogecoin price chart. Notably, Trader Tardigrade has previously made more bullish predictions for Dogecoin in this market cycle. The analyst predicts that DOGE could reach highs of up to $30 in this cycle while advising market participants to start taking profits at $10.

What the next move might look like

Crypto analyst KrissPax has provided insights into what the next bullish move for Dogecoin might look like. He stated that following the double bottom pattern on DOGE's chart, a fractal from past price action suggests a bullish move could occur until Monday, followed by an upward trend until Christmas. However, this crypto analyst warned that there would be pullbacks along the way.

Meanwhile, just like Trader Tardigrade, KrissPax also emphasized the bullish flag that has formed on DOGE's daily chart. He claims that this bullish pattern indicates that the price of Dogecoin will reach $0.69 by the end of the year. This would bring Dogecoin close to the current all-time high (ATH) of $0.73.

Cryptocurrency whales seem to be positioning for this Dogecoin rally. Crypto analyst Ali Martinez reveals that these investors have purchased 160 million DOGE within 24 hours.

At the time of writing, the price of Dogecoin is trading at around $0.40, up over 1% in the past 24 hours, according to data from CoinMarketCap.

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