Dogecoin Holds Key Parallel Level as Historical Pattern Repeats

• Dogecoin maintains a key parallel level, resembling its 2017 and 2021 cycles.
• Analysts identify $26 as the minimum target based on past trends.
• The market awaits confirmation of the bottom before the next phase begins.

Dogecoin’s weekly chart maintains a key parallel level, showing similarities to its 2017 and 2021 market cycles. The current price action remains within the same range, with the weekly candle holding steady at this critical level. Analysts observe that the cryptocurrency’s structure mirrors past trends, suggesting that once a confirmed bottom is established, the next phase could begin.

Dogecoin’s Market Structure Aligns With Previous Cycles

Market observations by Doge Capital on X show that Dogecoin’s price action aligns with its previous cycles. During both the 2017 and 2021 bull markets, Dogecoin followed a similar pattern before moving toward the next resistance level. The parallel lines on the weekly chart indicate that Dogecoin is maintaining its historical trend, which previously led to major price movements.

The next phase is expected once the bottom is confirmed. Based on past cycles, Dogecoin could move toward a key resistance level positioned just above the yellow parallel line. If the pattern continues, a surge could follow as Dogecoin advances through its market cycle.

Minimum Target Set at $26 Based on Historical Trends

The final phase in Dogecoin’s market cycle previously led to significant price increases. Analysts have identified a parallel red zone that historically marked Dogecoin’s peak. This zone has consistently played a role in price movements before new market cycles began.

As of today, the lower boundary of the red zone is positioned at $26. This level gradually rises due to the chart’s slope, making it the minimum target for this cycle. Historical data suggests that Dogecoin follows a structured path, and maintaining this trend could lead to similar results.

Dogecoin’s price action remains tied to historical cycles. The market is currently watching for confirmation of the bottom before the second phase begins. If the pattern remains intact, Dogecoin’s price could enter a strong upward trajectory.