Dogecoin Eyes Parabolic Rally With Megaphone Pattern

In a TradingView post, TradingShot predicted that Dogecoin could rally to as high as $1.25. He noted that the meme coin has been trading in a bullish Megaphone pattern within a channel up. The analyst added that the recent rebound on June 16 on the weekly MA200 is a higher low at the bottom of both patterns. 

With the 1-week Relative Strength Index (RSI) also rebounding on its long-term support zone, TradingShot declared that Dogecoin is most likely at the start of a new bullish leg. He noted that this could be the final rally that will shape this cycle’s top. Meanwhile, the analyst claimed that DOGE is targeting $1.25 because the previous two bullish legs peaked on the 3.618 Fibonacci extension of the last decline. 

He told market participants that they can settle for $0.8 if they wish to pursue a target within the Channel up. A rally to both $0.8 and $1.25 would mark new all-time highs (ATHs) for Dogecoin, whose current ATH is at $0.73. His accompanying chart showed that DOGE could reach these targets in the first half of next year. 

Dogecoin is expected to maintain a steady climb from now till then as it reaches those targets. The meme coin has already begun another uptrend following Bitcoin’s rally to a new ATH. DOGE has again reclaimed the $ 0.20 psychological price level and could potentially reach its last local high at around $0.26. 

DOGE Against Its Bitcoin Pair

In an X post, crypto analyst Kevin Capital stated that the DOGE/BTC chart is sitting in a historical zone of support with the monthly time frame indicators fully reset. The analyst indicated that this was possibly the best setup for Dogecoin, one that could spark a massive run for the meme coin. 

Meanwhile, crypto analyst Trader Tardigrade stated that the Dogecoin-to-Bitcoin chart might show a God candle this month. This God candle could spark a DOGE season, when the meme coin is expected to outperform the flagship crypto. The analyst’s accompanying chart showed that DOGE could rally to as high as $9 during this period. Meanwhile, he highlighted the $0.2 support level as being crucial for this lift-off for the meme coin. 

At the time of writing, the Dogecoin price is trading at around $0.2, up almost 2% in the last 24 hours, according to data from CoinMarketCap.

As positive momentum builds, experts are wondering whether Litecoin can reach the next crucial level: $128. At its current price of $127, it’s just a matter of time (hours?) before LTC can easily hit $128.

Strong Recovery After Market Dip

Traders have been drawn to Litecoin lately, particularly given its remarkable 25% increase over the past 30 days. LTC has kept a consistent climb while Bitcoin and other big cryptocurrencies have somewhat been shaken.

Litecoin dropped momentarily to $105 on February 10 then quickly recovered, indicating substantial buyer demand at reduced levels. Now considered as a crucial support zone, the $120 mark will help LTC brace for another leg up as long as it holds.

$LTC is breaking out of this ascending triangle as predicted! The target is $128

Trade #Litecoin on Bitunix – https://t.co/GzXaATj3Ps and get a free $100 after your first $500 deposit! pic.twitter.com/UGD4Qq1aa5

— Carl Moon (@TheMoonCarl) February 10, 2025

Market Sentinel Sees A Move To $128 And Above

With some experts seeing a breakthrough toward $128 in the near term, market watchers are upbeat about Litecoin’s trajectory.

Should positive sentiment persist, the next main obstacle falls between $128 and $130. A clean break above this area would let the door open for a push toward $150 or possibly $170 in the next weeks.

The past performance of Litecoin in pre- and post-halving cycles is one of the elements fostering this optimistic view. Some analysts contend that Litecoin’s present surge is still part of its extended bullish phase.

Litecoin ETF Speculation Adds Fuel To The Fire

Speculation about a possible Litecoin exchange-traded fund (ETF) is another main driver behind Litecoin’s current surge. Although Bitcoin ETFs are already causing stir in the market, investors are also considering other assets that would profit from same regulatory approval.

Odds of Litecoin ETF approval at 90%.

I’m fine if folks want to buy it. It’s a free country

But why? It’s a decade old ghost chain with no discernible purpose. https://t.co/XNsNqxfDfp

— Jeff Roberts (@jeffjohnroberts) February 11, 2025

Should an LTC ETF be greenlit – which at the time of writing has a solid 90% odds of approval, according to an X user – it would give institutional investors a controlled approach to expose themselves to crypto, hence maybe generating large asset inflows.

While no official confirmation has been made, growing speculation alone has been enough to spark increased interest in LTC.

Litecoin: What’s Next?

Litecoin is barely one dollar away from its target, and all eyes are on whether it can surpass the $128 barrier level, according crypto analyst Carl Moon. Should the overall market stay steady and sentiment remain favorable, a move past $130 could be just ahead.

Featured image from Gemini Imagen, chart from TradingView