Crypto analyst Commercial Tardigrade The daily trading chart for Dogecoin is shown online. Based on this pattern, the analyst predicted that the price of Dogecoin could reach as high as $2.15 in this market cycle.
Bull Flag puts Dogecoin price target at $2.15
In the X postTrader Tardigrade revealed a bullish flag that had formed on the DOGE daily chart. He said there is tight reinforcement on the inside the flag of the bull. The analyst said that a long flag pole projects Dogecoin price target at $2.15. Interestingly, the accompanying chart showed that the rally to this target could happen before the end of the year.
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The price of Dogecoin could be well primed for this rally to the potato. In another X post, Trader Tardigrade said that the Dogecoin position is able to come up with a two-bottom card pattern. He said that DOGE had created two equal levels with neck resistance, which is around $0.46.
At the same time, the crypto analyst recently said that the price of Dogecoin has gained more buying power with a bullish crossover on the moving average convergence/divergence (MACD). His analysis suggested that Dogecoin could break this resistance at $0.46 and rally to around $0.5 on the next leg of the DOGE bull run.
This rally to $0.5 could be just the beginning of the projected rally to $2.15 based on the bullish flag on the Dogecoin price chart. It is worth mentioning that Trader Tardigrade has previously given more bullish predictions for Dogecoin in this market cycle. The analyst predicted that DOGE could reach as high as $30 in this cycle while advising market participants to start taking profits around $10.
What the next move might look like
Crypto analyst KrissPax it provided an insight into what the next move up for the price of Dogecoin might look like. He said that after the double bottom pattern on the DOGE chart, a fractal from past price action shows a possible move up to Monday, then a move up to Christmas . However, the crypto analyst warned that there would be crashes on the way.
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Meanwhile, as Trader Tardigrade, KrissPax also highlighted the bullish flag that has formed on the DOGE daily chart. He said that this bullish pattern points to the price of Dogecoin reaching $0.69 by the end of the year. This would break Dogecoin close to the moment all time high (ATH) to buy for 0.73 US dollars.
Crypto whales seem to be positioning themselves for this Dogecoin price rally. Crypto analyst Ali Martinez revealed that those investors bought 160 million DOGE in 24 hours.
At the time of writing, the price of Dogecoin is trading at around $0.4, up more than 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image created by Dall.E, chart from Tradingview.com
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