Dogecoin Price Prediction: Analyst Says There is a 100% Chance of a Price Rise, Here is the Reason

Dogecoin seems to be preparing for its next important move, with a familiar price structure appearing on its price chart. According to cryptocurrency analyst (basictradingtv), this meme coin is experiencing a trend of a rounded bottom pattern and parabolic bullish phases, which have always pushed its price to all-time highs. The current setup indicates that Dogecoin's continued recovery from the lows in March may not just be a temporary rebound, but there is a 100% chance that this is the beginning of a much larger parabolic bullish phase. Trading Dogecoin in Familiar Cycles: 100% Bullish Opportunity The core of the bullish forecast is the recurrence of a famous price pattern, the rounded bottom. Dogecoin is known for trading in multi-year cycles that begin with the gradual formation of a bottom, ultimately leading to explosive bullish runs. This pattern, visible on long-term charts, has formed again over the past few months. As shown in the monthly candlestick chart below, the rounded bottom occurs during the period between the all-time high of Dogecoin in 2021, the bear market in 2022, and the recovery phase at the end of 2024. The recovery has led to Dogecoin reaching new highs since 2021, perhaps marking the beginning of a parabolic bullish phase. However, this time, the anticipated parabolic bullish phase has been temporarily interrupted by a strong resistance zone.

After reaching a high of around $0.48 in December 2024, Dogecoin experienced a rejection that sent its price into a corrective path until it hit $0.1477 in early March. However, instead of breaking below, this level has acted as solid support. Since then, the price has slightly recovered and has risen to $0.20 at the time of writing. With this in mind, analysts predict that the bullish cycle remains intact, with the parabolic branch of the model expected to occur soon. Monthly Candle Needs to Close Above Support Currently, the most important step is for Dogecoin to close the March candle above the key support level established during the recent market correction. If successful, this will confirm 100% that a parabolic bullish wave will occur thereafter. The analyst also points out two important levels for Dogecoin in the coming weeks and months: $0.15 and $0.5. The $0.15 level was tested during Dogecoin's sharp pullback earlier this month, when the price dropped to a low of $0.1477. $0.15 currently serves as a support level that should not be broken. The longer Dogecoin tests this support level, the longer the delay for the bullish parabolic surge. Fortunately, the recovery from that area has added technical strength to the argument that buyers will step in at that level. Meanwhile, $0.5 is identified as the main resistance target ahead. Breaking through that resistance level will confirm the start of a comprehensive parabolic bullish trend, similar to the surge that took Dogecoin to its all-time high in 2021. At the time of writing, Dogecoin is trading at $0.2052, up 10.8% in the last 24 hours.