Dogecoin (DOGE) Is Setting Up For Its Next Big Move: 100% Chance of Parabolic Rally

According to crypto analyst (basictradingtv), the meme coin is playing out a trend of rounding bottom patterns and parabolic rallies

Dogecoin price is showing a familiar structure that could be setting up for its next significant move, according to crypto analyst (basictradingtv).

On a monthly candlestick timeframe chart, the rounding played out during the time period between Dogecoin’s all-time high in 2021, the bear market in 2022, and the recovery phase in late 2024. The recovery led to Dogecoin pushing to new highs since 2021, which was probably the start of the parabolic rally phase. However, this time around, the anticipated parabolic rally was temporarily interrupted by a strong resistance zone.

After reaching highs around $0.48 in December 2024, Dogecoin saw a rejection that has seen its price going on a correction path until it reached $0.1477 in early March. But rather than breaking below, this level acted as a solid support. Since then, the price rebounded slightly and has recovered to $0.2 at the time of writing.

With this in mind, the analyst predicted that the bullish cycle is intact, with the parabolic leg of the pattern expected to unfold. The most important step is for Dogecoin to close its monthly candlestick for March above the key support level established during the recent market correction. If this is successful, it will certify that a bullish parabolic rally will follow.

The analyst also pointed 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 dipped to as low as $0.1477.

This level now acts as the support level that should not be broken. The longer Dogecoin tests this support level, the longer the delay for the parabolic rally. Fortunately, the recovery from that zone has added technical strength to the argument that buyers are going to step in at that level.

Meanwhile, $0.5 is identified as the primary resistance target ahead. Breaking through that resistance will confirm the start of a full-fledged parabolic rally, similar to the one that sent Dogecoin to its all-time high in 2021.

At the time of writing, Dogecoin is trading at $0.2052, up by 10.8% in the past 24 hours.