Dogecoin Price enters a bullish Livermore cylinder that can catapult the price to $1.5

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Crypto analyst Tradingshot revealed that Dogecoin Price It could enter a bullish pattern, which could lead to parabolic gatherings at $1.5. Interestingly, the analysts also raised the possibility of the first meme coin reaching the second digit.

Dogecoin Price Eyes $1.5, Bullish Livermore Cylinder Pattern

in TradingView PostTradingshot revealed that Dogecoin prices are within Livermore’s cylinders. Analysts noted that Doge is trading internally A strong megaphone Most bull cycles since October 9, 2023 are low.

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In line with this, Tradingshot declared that this was technically one large scale so far Accumulation stage Along with the rest of the Altcoin market. This is where Livermore’s storage cylinders come in. This is to draw comparisons with the megaphone pattern. Based on this Livermore model, analysts said the price of dogcoin is launching an aggressive breakout phase above the cylinder.

Once technically accumulation is over, Tradingshot predicts that Dogecoin prices could be pursued at levels 8 and 9, with price targets of $1.50 and $12 respectively. These price levels are marked new Ath For Doge, the current ATH is around $0.73. The chart accompanying analysts showed that memecoin could reach this $1.5 target between the present and the end of the year.

Meanwhile, Dogecoin prices could reach $12 by July next year. In line with this, Tradingshot admitted that the $12 goal is not expected to happen with this Current Bull Cyclehe predicts it will end in the next six months or later. However, he added that the $1.50 goal is well-ranged for this cycle, precisely doubleping the price of the previous cycle. Therefore, analysts declared that this target was a “very attractive top candidate.”

Bullish Surrounding Candles that are about to form for Doge

in xPostCrypto analyst trader Tardigrade said Doge’s monthly candles were closed in just one week. Bully wrapped candle It may be established. In line with this, he declared that a big moment was coming for Dogecoin prices. His accompanying charts showed that meme coins can reach $7.5 on this run.