Dogecoin Has Only 3 Steps Left Until A Surge Above $1, But A Major Factor Is Missing

The channel reveals a consistent, recurring pattern in Dogecoin’s price. Each time the meme coin has risen to touch the upper boundary of the descending channel, it has formed a local high before pulling back. The first touch led to a local top of around $0.517, and the second produced a lower high of roughly $0.315.

Based on this recurring trend, Kucuker believes that Dogecoin is preparing to touch this upper boundary a third time, potentially leading to a lower high at $0.204. Once that happens, the analyst expects a pullback toward $0.09. 

At this bottom point, Dogecoin is likely forming a strong base for its next upward move. Kucuker predicts that once this potential rally begins, Dogecoin’s price will officially break free from its multi-year descending channel and begin its ascent toward its ultimate top around $1.61. 

However, before reaching that target, the analyst noted that Dogecoin will have to cross several resistance and support levels. He marked them at $0.50, $0.12, $0.30, $0.08, $0.20, $0.010, and finally $1.60. Each of these levels represents critical checkpoints where price could rise sharply toward or reverse its advance before the next leg up begins. 

Analyst Reveals Best Time To Buy DOGE Before A $12 Run

Market expert Mikybullcrypto has shared the ideal time for investors and traders to reenter the Dogecoin market. According to the analyst, the best time to build positions in the meme coin is around the $0.10, where DOGE is currently trading

The reason the analyst has marked this area as a key buy zone is because he believes that a strong bullish rally to $12 is imminent. His chart shows an ascending trend that has been forming since 2014, with trendlines pointing toward upper targets between $0.5 and $50 for Dogecoin. 

DOGE trading at $0.11 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com