๐๐จ๐ ๐๐๐จ๐ข๐ง ๐๐ซ๐ข๐๐ ๐๐ง๐ญ๐๐ซ๐ฌ ๐๐๐ฑ๐ญ ๐๐ก๐๐ฌ๐ ๐จ๐ ๐๐ฎ๐ฅ๐ฅ ๐๐๐ซ๐ค๐๐ญ: ๐๐ก๐๐ญ ๐ญ๐จ ๐๐ฑ๐ฉ๐๐๐ญ ๐๐ก๐๐๐
Dogecoin has completed the initial phase of its bull market, mirroring patterns from the 2021 and 2017 rallies, according to crypto analyst KrissPax. This phase marks the first significant upward movement, but as seen in previous cycles, two additional phases of substantial gains are expected. KrissPax suggests that Dogecoin may experience further price increases, with two more bull phases potentially pushing the token to higher levels before it peaks in this cycle.
Traders are advised to remain patient, as Dogecoin could undergo a period of consolidation before the next upward leg begins.
Crypto analyst Ali Martinez added to the discussion by highlighting that, just like in previous years, the TD Sequential indicator has issued a sell signal, which could result in a brief correction before the rally continues. Despite this, analysts remain bullish on Dogecoin's long-term prospects, with KrissPax forecasting a possible price target of $3 in this market cycle. However, the first milestone is for Dogecoin to hit $1, followed by a potential surge to $3. A bullish channel analysis by Martinez even suggests that the price could rise as high as $14 if it reaches the upper boundary of the channel.
The next leg of the rally appears imminent, with crypto analyst Kevin Capital pointing out that Dogecoin has consolidated long enough and reset key technical indicators. He believes this sets the stage for the next move upward, which could provide traders with a clearer view of the token's macro price top. Other analysts, such as Master Kenobi, expect the price to surge unexpectedly, with some predicting a break above the current all-time high (ATH) and a rally to $1.08. As of now, Dogecoin is trading at approximately $0.42, up 5% in the last 24 hours, indicating continued upward momentum. Traders should stay alert for upcoming price movements that could offer profitable opportunities.
