{"id":604434,"date":"2024-04-22T17:00:52","date_gmt":"2024-04-22T17:00:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=604434"},"modified":"2024-04-22T12:35:52","modified_gmt":"2024-04-22T12:35:52","slug":"dogecoin-break-1-weeks-analyst-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-break-1-weeks-analyst-why\/","title":{"rendered":"Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks"},"content":{"rendered":"

An analyst has explained how a pattern forming in the Dogecoin price may suggest a rally to $1, if historical trend repeats this time as well.<\/p>\n

Dogecoin 1-Week Price Appears To Be Forming A Classic Pattern<\/h2>\n

In a new post<\/a> on X, analyst Ali has discussed how DOGE seems to have been showing a classic pattern in its weekly price once again. This trend involves a technical analysis (TA) pattern called the “Descending Triangle<\/a>,” which, as its name suggests, is shaped like a triangle.<\/p>\n

The pattern involves two trendlines between which the price of the asset consolidates; one of these is a line slopped downwards while the other is parallel to the time-axis. This property of the price converging downwards as it goes through the pattern is why it has descending in its name.<\/p>\n

Related Reading: Bitcoin Mega Whales Are Buying, Time For Rally To Return?<\/a><\/div>\n

Like other TA consolidation patterns, the upper line of the Descending Triangle also provides resistance to the commodity, making tops more probable to form at it. Similarly, the lower line acts as a point of support and can help the price reverse back upwards.<\/p>\n

A break out of either of these lines may result in a continuation of the trend in that direction. This means that a break above the triangle can be a bullish signal, while one below could suggest the dominance of bearish momentum.<\/p>\n

Similar to the Descending Triangle, there is also an Ascending Triangle<\/a> in TA, which works much like it, except for the fact that the parallel axis makes the upper line, connecting together tops, while the lower line ascends up as it joins higher lows.<\/p>\n

Now, here is the chart shared by Ali that highlights a pattern that DOGE’s 7-day price has been forming recently:<\/p>\n

\"Dogecoin<\/p>\n

The classic pattern that DOGE seems to have formed before in its history | Source: @ali_charts on X<\/a><\/pre>\n

From the graph, it’s visible that the Dogecoin 1-week price had been trading inside a long Descending Triangle between 2021 and this year, but the meme coin found a break earlier and has since registered some notable uplift.<\/p>\n

Recently, though, the cryptocurrency has reached a stage of sideways movement. This, however, may not entirely be a bad thing, as DOGE has also seen a similar trend of a Descending Triangle break followed by consolidation in the past as well.<\/p>\n

Related Reading: Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why<\/a><\/div>\n

As is visible in the chart, the previous two such formations led to Dogecoin witnessing some very significant growth. As such, the latest one may also prove to be bullish<\/a>, if this historical pattern continues to hold.<\/p>\n

“Based on past trends, we might just see DOGE rocket towards $1 in the coming weeks!” explains Ali. From the current spot price, such a potential rally would mean a growth of a whopping 525% for the coin.<\/p>\n

DOGE Price<\/h2>\n

Dogecoin’s price action has been quite stale since the price plunge earlier in the month, as the asset’s price is still trading around $0.16.<\/p>\n

\"Dogecoin<\/p>\n

The price of the asset appears to have been moving sideways since the drawdown | Source: DOGEUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

An analyst has explained how a pattern forming in the Dogecoin price may suggest a rally to $1, if historical trend repeats this time as well. Dogecoin 1-Week Price Appears To Be Forming A Classic Pattern In a new post on X, analyst Ali has discussed how DOGE seems to have been showing a classic pattern in its weekly price once again. This trend involves a technical analysis (TA) pattern called the “Descending Triangle,” which, as its name suggests, is shaped like a triangle. The pattern involves two trendlines between which the price of the asset consolidates; one of these is a line slopped downwards while the other is parallel to the time-axis. This property of the price converging downwards as it goes through the pattern is why it has descending in its name. Related Reading: Bitcoin Mega Whales Are Buying, Time For Rally To Return? Like other TA consolidation patterns, the upper line of the Descending Triangle also provides resistance to the commodity, making tops more probable to form at it. Similarly, the lower line acts as a point of support and can help the price reverse back upwards. A break out of either of these lines may result in a continuation of the trend in that direction. This means that a break above the triangle can be a bullish signal, while one below could suggest the dominance of bearish momentum. Similar to the Descending Triangle, there is also an Ascending Triangle in TA, which works much like it, except for the fact that the parallel axis makes the upper line, connecting together tops, while the lower line ascends up as it joins higher lows. Now, here is the chart shared by Ali that highlights a pattern that DOGE’s 7-day price has been forming recently: The classic pattern that DOGE seems to have formed before in its history | Source: @ali_charts on X From the graph, it’s visible that the Dogecoin 1-week price had been trading inside a long Descending Triangle between 2021 and this year, but the meme coin found a break earlier and has since registered some notable uplift. Recently, though, the cryptocurrency has reached a stage of sideways movement. This, however, may not entirely be a bad thing, as DOGE has also seen a similar trend of a Descending Triangle break followed by consolidation in the past as well. Related Reading: Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why As is visible in the chart, the previous two such formations led to Dogecoin witnessing some very significant growth. As such, the latest one may also prove to be bullish, if this historical pattern continues to hold. “Based on past trends, we might just see DOGE rocket towards $1 in the coming weeks!” explains Ali. From the current spot price, such a potential rally would mean a growth of a whopping 525% for the coin. DOGE Price Dogecoin’s price action has been quite stale since the price plunge earlier in the month, as the asset’s price is still trading around $0.16. The price of the asset appears to have been moving sideways since the drawdown | Source: DOGEUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":604446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,7,92134,91820,1804,89722,89907,92135,79599],"class_list":["post-604434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-dogecoin","tag-dogecoin-break","tag-dogecoin-pattern","tag-dogecoin-price","tag-dogecoin-price-prediction","tag-dogecoin-rally","tag-dogecoin-trend","tag-dogeusd"],"acf":[],"yoast_head":"\nDogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks<\/title>\n<meta name=\"description\" content=\"An analyst has 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-break-1-weeks-analyst-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-break-1-weeks-analyst-why\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/kanchanara-sOp4OSP8Erc-unsplash_8370ac.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/kanchanara-sOp4OSP8Erc-unsplash_8370ac.jpg?fit=6048%2C4024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","dogecoin","dogecoin break","dogecoin pattern","dogecoin price","dogecoin price prediction","dogecoin rally","dogecoin trend","dogeusd"],"dateCreated":"2024-04-22T17:00:52Z","datePublished":"2024-04-22T17:00:52Z","dateModified":"2024-04-22T17:00:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-break-1-weeks-analyst-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-break-1-weeks-analyst-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-sOp4OSP8Erc-unsplash_8370ac.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-sOp4OSP8Erc-unsplash_8370ac.jpg?fit=6048%2C4024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"dogecoin\",\"dogecoin break\",\"dogecoin pattern\",\"dogecoin price\",\"dogecoin price prediction\",\"dogecoin rally\",\"dogecoin trend\",\"dogeusd\"],\"dateCreated\":\"2024-04-22T17:00:52Z\",\"datePublished\":\"2024-04-22T17:00:52Z\",\"dateModified\":\"2024-04-22T17:00:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/kanchanara-sOp4OSP8Erc-unsplash_8370ac.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/604434"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=604434"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/604434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/604446"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=604434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=604434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=604434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}