Crypto analyst Trader Tardigrade has provided insights into the current Dogecoin price action. The analyst revealed that Dogecoin is currently stuck in a range amid the recent crypto market crash and suggested what could happen if the foremost meme coin breaks out of this range. 

Dogecoin Price Stuck In A Range, What Could Happen Next?

In an X post, Trader Tardigrade stated that the Dogecoin price is moving in a range. The analyst added that a breakout of the range could continue the DOGE uptrend. The analyst’s accompanying chart showed that Dogecoin could finally reach the much-anticipated $1 psychological price level when this uptrend continues. 

This will mark a new all-time high (ATH) for the Dogecoin price, whose current ATH is at around $0.73. The chart also showed that this projected rally to $1 could happen before the year ends. This will undoubtedly cap a perfect ending to the year for Dogecoin, which has already enjoyed a year-to-date (YTD) gain of over 245%.

In an X post, the crypto analyst explained why a bullish reversal could be imminent for the Dogecoin price. He stated that Dogecoin’s daily Relative Strength Index (RSI) has fallen back to a potential rebound zone. The analyst further noted that at this RSI level, DOGE hit a local bottom at $0.095 earlier in September, followed by a parabolic rally to $0.48. If the foremost meme coin were to replicate this price gain, then it could reach $1.35 from its current level. 

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Author: Scott Matherson