Crypto analyst Cantonese Cat is predicting a massive surge for Dogecoin, citing its technical analysis and chart structure as key indicators. The analyst notes that Dogecoin has closed above the 0.786 log Fibonacci level for three consecutive weeks, making higher prices possible.
Unlike the previous cycle, Dogecoin appears to be sustaining price action above this level without a deeper correction. Cantonese Cat attributes this to the alignment of multiple technical factors, including weekly Ichimoku Cloud signals and higher time frame indicators.
Key highlights include:
* The analyst believes Dogecoin will soon challenge its all-time high levels due to a more bullish overall chart structure.
* Potential Fibonacci extension targets of $2.3 or even $4 are theoretically possible given current market conditions.
* Last cycle’s price pullback was significantly shorter than expected, indicating a potentially more bullish outcome this time around.
At the time of press, Dogecoin traded at $0.44.
Source: https://www.newsbtc.com/news/dont-be-surprised-dogecoin-1-or-2-in-a-hurry