The current Dogecoin market motion has seen its value now hovering under $0.20 after surging to $0.208 previously 24 hours. Regardless of the consolidation, analysts and merchants are watching the meme coin carefully, believing that the subsequent main transfer might redefine its long-term trajectory.
Amongst these voices is crypto analyst EtherNasyonaL, who predicted that Dogecoin’s third and strongest bullish part continues to be forward. His technical evaluation on the month-to-month chart presents a construction that reveals the groundwork for an additional huge uptrend to above $0.8 is already in movement.
Dogecoin’s First Two Bull Waves Set The Stage
The month-to-month candlestick value chart shared by EtherNasyonaL calls consideration to Dogecoin’s cyclical nature since 2014, exhibiting two accomplished bull waves and a 3rd one forming. Every of those bullish waves was fashioned after Dogecoin broke above after which retested the higher trendline of a descending channel of decrease highs that had confined its value motion within the previous years. This retest was additionally highlighted by a confluence of the 25 Transferring Common (MA) indicator.
Associated Studying
The primary wave, which started in 2017, brought about Dogecoin’s earliest exponential rise from near-zero ranges, proper when the meme coin entered into fashionable crypto discussions. The second, and way more explosive, bull wave occurred between 2020 and 2021, when Dogecoin surged from underneath $0.003 to an all-time excessive of $0.7316, which has stood till now.
Every bull run began as soon as Dogecoin reclaimed its 25-month transferring common as help, following prolonged consolidation intervals that spanned a number of months. The present setup displays the identical situation, because the 25MA line has as soon as once more turned upward, and Dogecoin has efficiently retested the higher trendline of its earlier descending channel, as proven within the chart under.
Dogecoin 1M value chart. Supply: @EtherNasyonaL on X
third Bull Wave Setup: Resistance Retested, Accumulation Ongoing
The evaluation reveals that Dogecoin has lately damaged free from a long-term downtrend that spanned between mid-2021 and early 2025. Notably, current crypto market liquidation occasions in October have seen the Dogecoin value full a profitable retest of the resistance stage, now turned help, across the $0.17 to $0.20 value vary.
Associated Studying
This profitable retest additionally coincides with a simultaneous bounce off the underside trendline of an ascending channel. EtherNasyonaL describes the present value motion as Dogecoin “accumulating energy within the decrease band of a years-long ascending channel.”
The projected trajectory on the chart above exhibits Dogecoin following its established sample by transferring from the decrease area of the ascending channel to its higher boundary. If the third bull wave performs out because the earlier two did, Dogecoin’s value might problem its $0.73 all-time excessive and break into new value territories. The primary value goal on this case is the $0.8 mark, after which as excessive as $4 in the long run.
Featured picture created with Dall.E, chart from Tradingview.com
