Key Insights:
- Dogecoin touches long-term trendline for third time, mirroring previous breakout setups from past cycles.
- Analysts highlight Dogecoin’s recurring price pattern with strong moves during late bull market phases.
- Current price near $0.16 may form a base for a potential $5 breakout, say market observers.
Dogecoin has recently shown signs that it may be repeating a familiar pattern from earlier market cycles. While its current price movement remains steady, some analysts believe that it could be setting up for a breakout. The digital asset has traded sideways for a while, but historical data suggests this could change soon.
Recurring Pattern Observed in Dogecoin Price Cycles
Dogecoin’s market structure has followed a recurring pattern over time. Traders note that it tends to move sideways before entering a sharp upward phase during bull markets. Bitcoinsensus stated, “Each past cycle, it has never deceived in terms of late-cycle returns.”
While Dogecoin remains calm for long periods, its performance during bull markets often exceeds expectations. The current Cycle 3 is developing with similar patterns and is projected to rise 4,447.76%, with a possible target above $5 before 2026.
Dogecoin Repeating Pattern | Source: XThe current cycle is being compared to previous ones, where the price remained low before seeing major upward moves. This trend has occurred during earlier stages of each bull run.
Support Levels and Trendline Structure Offer Clues
On the weekly chart, Dogecoin has touched its long-term support trendline for the third time. Trader Tardigrade pointed out that a similar setup was seen from 2023 to 2024, which led to a gradual price increase. The setup shows a clear “1-2-3” structure, with the third touch now complete.
Dogecoin’s weekly candle closes at the support trendline on its third touch. This suggests the support line is still holding, which some believe may signal the start of a move higher.
Long-term Support Trendline | Source: XThis trendline is being watched by many traders who view it as an indicator of potential price strength. Dogecoin has shown similar behavior in previous cycles after testing key support levels.
Third Major Run in Development and Current Market Movement
Crypto analyst EtherNasyonaL also released a chart showing Dogecoin in the early stages of what he called the 3rd Run. This view is based on a channel pattern that has been active since 2014. Each run begins near the lower end of the channel and moves higher over time.
The analyst noted that “Dogecoin’s cyclical nature is quietly retracing its pattern.” The chart shows Dogecoin trading near the base of the third run, similar to how the 2017 and 2021 rallies began. The setup continues to follow the same price path seen in past cycles.
DOGE Third Major Run | Source: XDogecoin is currently priced at $0.162, with 24-hour trading volume standing at $2B. The price is down 0.35% over the last 24 hours. Market watchers continue to track the price movements closely as these cyclical projections remain active.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/dogecoin-hints-breakout-target-above-5/
