Crypto analyst Ali Martinez took to X to share his prediction that the price of Dogecoin (DOGE) could be on the road to $1, suggesting key technical analysis patterns playing out on the weekly chart as the famous dog-themed meme coin prints bullish breakout patterns.
The prediction from Ali is based on similar past price trends reemerging as the price of Dogecoin (DOGE) attempts a breakout from its long consolidation of over 875 days that has seen the price of Dogecoin (DOGE) suffer a price drop from $0.74 to the depths of $0.050.
Weekly Chart Prints Bullish Pattern For Dogecoin (DOGE)
In his X post, Ali Martinez elaborated on how the same pattern on the weekly chart is beginning to resurface from past price trends on Dogecoin (DOGE). He went on to show that the Dogecoin (DOGE) breakout could be followed by some consolidation before the price moves to the upside of $1.
Based on his technical analysis (TA), the price of Dogecoin (DOGE) on the weekly timeframe broke out of its bullish ascending triangle, looking prime for a mega rally, as such price movement was evident in the past bull run.
After the price of Dogecoin (DOGE) broke out from this bullish pattern, it remained at $0.16-0.$20. As the analyst speculated, the price of Dogecoin (DOGE) could rally high if it reclaims above $0.35.
While Ali’s prediction looks too good to be true for many, we can not overlook the fact that Dogecoin (DOGE) in the past has rallied by over 10,000% in previous cycles, and this pattern could play out as speculated.
Despite the enormous potential the rally of Dogecoin (DOGE) to $1 possess, most investors are rather looking into something more promising in ETFSwap (ETFS) as the new gem in the block could prove a better return on investment for many investors hopping into its wagon.
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For more information about the ETFS Presale:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
