BroadChain, April 27, 04:36, according to NewsBTC, cryptocurrency analyst Trader Tardigrade pointed out that the monthly chart of Dogecoin is replicating the classic symmetrical triangle consolidation pattern seen in 2017 and 2020, with the current price having retraced to the apex of this pattern.
The analyst believes that after breaking out of the descending triangle in 2024, Dogecoin entered a correction phase starting from late 2024 and is now retesting the triangle's apex. Historical data shows that after two similar apex retests in 2017 and 2020, Dogecoin experienced significant upward movements, including a surge to its all-time high of $0.73 in 2021.
Trader Tardigrade predicts that if this rebound fully unfolds, Dogecoin's price could reach $2.4. However, the analyst also notes that the current crypto market environment is more complex, and Bitcoin needs to stabilize first and generate comprehensive bullish momentum to support Dogecoin's breakout.