Dogecoin price has been experiencing great volatility and prolonged periods of sideways trading in recent weeks. However, experienced analysts suggest there is little reason to panic. Beneath the short-term turmoil lies a long-term structure that experts believe could set the stage for a major price breakout. They suggest that the broader technical picture paints a bullish narrative, which could eventually drive DOGE above $1 once momentum resumes.
Long-Term Accumulation Signal Dogecoin Price Next Bull Run
According to a technical analysis presented According to crypto analyst EtherNasyonal on social media X this week, Dogecoin price is preparing for a important bullfight above $1. He explained that DOGE price action remains within a powerful long term. Ascending channelmaintaining structural integrity despite continuous price fluctuations. Their monthly chart analysis reveals that the meme coin has been establishing a accumulation of several years base, similar to patterns formed before their explosive rallies in 2017 and 2021.
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EtherNasyonal highlights that the momentum is quietly growing above key support levels, indicating that the next phase of expansion could be forming. The chart illustrates that Dogecoin, which has been trading within an ascending parallel channel since 2014, is currently consolidating around the lower boundary near $0.18.
Historically, every time Dogecoin has completed a similar downward pattern within this structure, it has started a parabolic upward movement. The previous breakout boosted the meme coin by several thousand percent, lifting it from fractions of a cent to all-time highs above $0.70.
The current Dogecoin chart setup suggests a repeat of this bullish behavior. Between 2022 and 2024 a large, rounded base pattern will be seen, reflecting a steady accumulation and potentially declining trend. selling pressure. EtherNasyonal projection points to the upper midline of the Ascending Channel, potentially above $1, if historical patterns develop as expected.
Dogecoin False Breakout Suggests Possible Reversal
On shorter time frames, crypto analyst Trader Tardigrade provides additional context to the current Dogecoin price action. Your 4 hour chart highlights a “false breakup” followed by a “false fault.” Dogecoin initially broke through the resistance near $0.206 but failed to hold on, pulling back sharply to retest the lower boundary around $0.178.
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This rapid reversal pattern, marked by aggressive selling followed by a rapid rally, often precedes a recovery move towards previous resistance levels. The Tardigrade trader’s chart structure indicates that the break below the horizontal support level was short-lived, and buyers were likely to step in to soak up liquidity and push prices up.
The chart setup suggests that DOGE could soon reclaim the $0.20 – $0.21 region as the next target zone from its current price of $0.18. If the bounce continues and momentum aligns with the broader monthly structure, this could serve as the first leg of a sustained uptrend.
Featured image from Getty Images, chart from Tradingview.com
