On the 4-Hour Chart, Dogecoin’s Gaussian Channel Shifts to Green, Indicating Possible New All-Time High above $1
In December 2024, Dogecoin’s price shifted into the Gaussian Channel amid a market downturn driven by Bitcoin’s struggles. Despite this bearish trigger, Dogecoin’s move into the Gaussian Channel signaled a bullish trend, hinting at a potential quick recovery from price declines. The Gaussian Channel could serve as a bounce-back point, propelling DOGE towards new record highs.
Dogecoin’s presence in the Gaussian Channel has begun to show signs of positivity, with the channel recently turning green for the first time. Analysis from Trader Tardigrade revealed a green flash in the Gaussian Channel on the 4-hour chart, suggesting a potential breakout from the three-week trend. This development could mark the beginning of an upward trajectory that may propel the price above $1.
Initial projections place Dogecoin’s price target at $0.5, where it faces considerable resistance following a recent peak. Overcoming this resistance could lead to a significant uptrend, as shown in the analyst’s chart, with a target price of $1.4, representing a more than 200% surge from the current level. This aligns with previous forecasts for DOGE, indicating a forthcoming new all-time high.
Despite the price setback in December 2024, crypto analysts have maintained an optimistic outlook on Dogecoin. Analyst Dima James suggested a potential for a double-digit price level for DOGE in the current cycle, citing historical data of previous surges. With a history of surges occurring on a 4-year cycle, the next surge in 2025 could see DOGE reaching new peak levels in the first quarter of the year.
In another analysis highlighted by NewsBTC, a crypto analyst projected a potential surge for DOGE up to $5, representing a 1,500% increase. The timeline for this surge was estimated between March and April, indicating a short timeframe for this prediction to materialize. At the time of writing, Dogecoin was trading at $0.383, standing 48% below its previous all-time high of $0.7376 from May 2021.
The post On the 4-Hour Chart, Dogecoin’s Gaussian Channel Shifts to Green, Indicating Possible New All-Time High above $1 appeared first on Crypto Breaking News.