Ascending triangle on 2-hour chart shows DOGE is still very profitable

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Crypto analyst KrissPax has given a bullish outlook for the price of Dogecoin, recently indicating that the most important meme coin is still very bullish. DOGE is currently seeing a consolidation phase, having rallied significantly between October and early November.

The price of Dogecoin is still very profitable despite the recent cooldown

In recent times X postKrissPax suggested that the price of Dogecoin is still very bullish despite the recent cooling. The crypto analyst said that Dogecoin trades on the 2-hour chart in classic ascending triangle pattern. He said the pattern looks bullish with a flat front line, higher lows, and even the leverage flow that occurred.

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KrissPax is not the first to point out an ascending triangle pattern on the DOGE chart, which gives an optimistic outlook for the price of Dogecoin. Crypto analyst Capital Recht also recently drew the community's attention to this bullish pattern and suggested that Dogecoin may rally to $0.56 when it breaks out of this consolidation triangle.

Since its parabolic rally between October and early November, the Dogecoin price has consolidated within the $0.4 range. However, analysts like crypto Master Kenobi and Kevin Capital has suggested that the price action of the meme coin is expected and still in bullish territory despite this cool period.

According to these analysts, the price of Dogecoin was consolidated for about 25 days in the last bull after the first bull phase before it enjoyed another leg to the upside. History seems to be repeating itself, seeing how the most important meme base has consolidated for several days this time.

This consolidation period may end soon, as the price of Dogecoin has cooled for about 25 days this time. According to this, Master Kenobi expects that Dogecoin could enjoy another pump in the next few days, rally to $1, and eventually reach as high as $2.9.

DOGE's next leg will be “violent”

Crypto analyst Bluntz Capital has predicted that the next step up for Dogecoin price will be explosive. In X's post, he said that Dogecoin will record a “violent upside move” when it breaks this 3-week rallying trend. His accompanying chart showed that the most important meme coin would reach $0.6 on this next step up.

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This projected rally will push the price of Dogecoin close to its current high (ATH) at $0.73. The Crow crypto analyzer also provides a strong outlook for Dogecoin, saying that DOGE market participants should not disappear. His accompanying chart showed that the meme coin could even break his current ATH on this next leg up.