Cryptocurrency enthusiasts and investors have been keeping a close watch on Dogecoin, especially following its remarkable journey to an all-time high (ATH) of $0.75. Esteemed crypto analyst Behdark delves into the price roadmap of Dogecoin, offering insights into potential corrections and future rallies.
Anticipating a Bearish Wave for Dogecoin
Behdark’s analysis, shared on TradingView, highlights the potential onset of a bearish phase for Dogecoin, referred to as wave F. This wave forms part of a broader diametric pattern, with previous corrective waves spanning between 196 and 347 days. Consequently, wave F is projected to follow a similar timeline.
Potential Price Drop and Volatility
The accompanying chart from Behdark’s analysis indicates a possible drop in Dogecoin’s price to as low as $0.15 during this corrective wave F. This phase is expected to mirror the volatility observed in previous waves B and D. The anticipated timeline suggests that this wave might persist until November 2025.
Transition to a Bullish Wave G
Following the completion of wave F, Dogecoin is poised to enter wave G, characterized by bullish momentum. Behdark forecasts a potential rise to approximately $0.8, although reaching the psychological $1 price point might remain a challenge for Dogecoin.
Invalidation Levels and Alternative Outlooks
A critical aspect of Behdark’s analysis is the invalidation level set at $0.12. Should Dogecoin’s weekly candle fall below this level, the optimistic outlook between $0.15 and $0.20 would be invalidated. This perspective contrasts with other analysts like Trader Tardigrade, who predict a rally to double digits by mid-2025.
The Four-Year Cycle Perspective
Offering a different viewpoint, crypto analyst KrissPax emphasizes the ongoing relevance of the four-year cycle in Dogecoin’s price movements. He draws parallels to the pattern observed at the start of 2021, suggesting a potential repeat of this trend.
Historical Patterns and Future Rebounds
Master Kenobi, another noted crypto analyst, supports the notion of a price rebound in January 2025, referencing the historical pattern from the 2021 bull run. He speculates a new ATH could coincide with significant political events, adding an intriguing dimension to Dogecoin’s future.
At present, Dogecoin is trading around $0.31, reflecting a minor decline over the past 24 hours according to CoinMarketCap data. Despite the ongoing bearish pressures, the potential for future bullish developments keeps the interest high among investors.
