The latest Dogecoin market motion has seen its value now hovering beneath $0.20 after surging to $0.208 up to now 24 hours. Despite the consolidation, analysts and merchants are watching the meme coin closely, 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 remains to be forward. His technical evaluation on the month-to-month chart presents a construction that reveals the groundwork for one more 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, displaying two accomplished bull waves and a 3rd one forming. Every of those bullish waves was shaped 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.
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The primary wave, which started in 2017, brought on Dogecoin’s earliest exponential rise from near-zero ranges, proper when the meme coin entered into standard crypto discussions. The second, and way more explosive, bull wave occurred between 2020 and 2021, when Dogecoin surged from below $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 assist, 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 beneath.
Dogecoin 1M price chart. Source: @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, recent crypto market liquidation events in October have seen the Dogecoin value full a profitable retest of the resistance degree, now turned assist, across the $0.17 to $0.20 value vary.
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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 reveals 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