Dogecoin Price Hasn’t Begun Its 3rd Wave Yet, ATH Above $0.8 Still In The Cards

Dogecoin's price currently trades below $0.20 after a recent fluctuation, drawing attention from analysts. Crypto analyst EtherNasyonaL anticipates a third major bullish phase for Dogecoin, based on technical analysis. His analysis of the monthly chart suggests the groundwork for a significant uptrend towards $0.8 is already underway. Dogecoin's history shows cyclical bullish waves after breaking and retesting descending channel trendlines. The first bull wave occurred in 2017, and the second, more explosive wave, surged in 2020-2021 to its all-time high of $0.73. Each bull run began with the 25-month moving average acting as support. The current setup mirrors this, with the 25MA pointing upward and the retest completed. Dogecoin recently broke free from a long-term downtrend and retested the $0.17-$0.20 resistance level, now acting as support. The price is currently accumulating strength within a long-term ascending channel. The analysis suggests the potential for Dogecoin to reach and exceed its previous all-time high. The first price target indicated is $0.8, with a long-term goal of reaching $4.