Dogecoin To $3.94 This Cycle? This Chart Says It’s No Meme

In a joint monthly scheme on July 8, the Kevin (Kev_Capital_ta) identified a long -term upscale thesis for Dogoin (Doge), with a clear historical style determining that may indicate the next main leg in the course of its price. The axial point of the scheme is an extension of 1.618 Fibonacci – used as a major drop level – that is Kevin Meaning Is the next leading goal for Dogecoin. Based on the graph, this level corresponds to $ 3.94.

History says that Dukwin will reach $ 3.94

Action PRICE’s DOGECOIN has followed significantly consistent style across three main stages of the market. In each of them, a clear descending bead formed, followed by the outbreak of the rush and an equivalent collection. These yellow structures are explained on the graph and preceded both 2017 and 2021 bulls. The latest sponge was completed in November last year, with the hacking of the hack now.

Kevin represents two historical levels in Fibonacci that were reached after previous unification. The peak is near the extension of 1.618 Vibonacci for the rules of each of them – a common goal of the upcoming Saudi movements in technical analysis. For the current structure, this puts the long -term Fibonacci goal of DOGE near $ 3.94, which will represent a transition of approximately 2,218 % of the current price around $ 0.17.

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Indicators also support the idea of ​​a long -term base. The relative power index (the relative power index) has just regained the monthly graphical graph, the 50 neutral area, which is currently sitting at 50.39, a signal that is often explained as the transition from landing to upward control. In the previous session, the monthly relative strength indicators that are always above 90. In particular, the monthly relative strength index in an upward trend since mid -2012, with respect for the yellow trend line drawn by the analyst.

A great convergence comes from the random force of relativity, which has just completed an intersection in the sale area. The last time this happened, in early 2020, Dogecoin followed with an increase in reward. This dynamic itself seems to be established again, echoing the previous session.

It is also worth noting that the structural focus of the scheme on RErdrewsing 0.382 Vibonacci, which was currently drawn at $ 0.13778, which seems to be a dotcoin wearing. This corresponds to the support of green vegetables, indicating the presence of decisive local floor.

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Although the purple areas on the graph above $ 0.50 are not the formal price of the price, Kevin explained in response to a member of the community that they are major resistance areas – semantics checkpoints before Dog can take a full step towards its final extension Vibonacci. These areas extend from about $ 1.00 to $ 1.20, as well as from $ 2.30 to $ 2.50, and eventually turn about $ 3.94.

Kevin stressed that “also Dogecoin has done this course in particular compared to other vitality, he is still approaching what he can. This will change in the appropriate environment.” He also pointed out that Dogecoin has already seen a 10x transition from the bear market to its highest level to its highest level, but he believes “there is still work to do” when the American Federal Reserve ends.

The graph and suspension sparked a strong reaction. Users like Monetaryregimee announced, “We have always reached 1.618”, which Kevin answered, “Yes, usually”, which enhances his confidence in fracture. Others described the current price procedure as “calm before the storm.”

Whether Dogecoin ultimately fulfills his fracture fate for $ 3.94 still should be seen. But the historical technical symmetry set by the Kevin scheme provides a convincing situation that may not end in the long term.

At the time of the press, Dog was traded at $ 0.174.

Distinctive image created with Dall.e, Chart from TradingView.com