Dogecoin Price To Enter Phase E After Testing Last Point Of Support, Here’s The Target

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Crypto analyst Trader Tardigrade has provided an update on the Dogecoin price action. He revealed that the foremost meme coin is set to enter Phase E next, during which it could rally to new highs.

Dogecoin Price To Enter Phase E Next After Testing Last Point Of Support

In an X post, Trader Tardigrade stated that the Dogecoin price will enter Phase E and then the Mark-Up phase after the move of Sign of Strength (SOS) and Last Point of Support (LPS). This came as he also revealed that DOGE has entered Phase D in the Wyckoff Accumulation. The analyst also noted that the meme coin completed the TEST in Phase C and the Last Point of Support in Phase D.

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His accompanying chart showed that the LPS in Phase D for the Dogecoin price is around $0.174, while the SOS will be a successful reclaim and hold above $0.18. This will usher DOGE into Phase E, where it is projected to rally to as high as $2.1, marking a new all-time high (ATH) for the foremost meme coin.

In another X post, Trader Tardigrade stated that the Dogecoin price could be forming an inverse Head and Shoulders pattern on the 4-hour chart, providing a bullish outlook for the foremost meme coin. His accompanying chart showed that Dogecoin could rally to $0.183 on this rebound, which is the SOS for the meme coin in this Phase D.

It is worth mentioning that crypto analyst Kingpin Crypto also provided a bullish outlook for the Dogecoin price, predicting that it could bounce from the current support and rally above the psychological $0.2 price level. The analyst asserted that DOGE’s chart is one of the best right now in terms of price, which is at a clear level of higher timeframe support.

DOGE Gearing Up For A Big Week

In an X post, crypto analyst Ali Martinez stated that the Dogecoin price is gearing up for a big week. He remarked that a close above $0.17 could open the door to $0.21 or even $0.29 if it holds the key support level at $0.13. However, the analyst recently revealed that DOGE whales are choosing to remain on the sidelines for now, which could be bearish for the meme coin.