This was revealed by cryptocurrency analyst Trader Tardigrade Dogecoin price is following a bullish signal that could lead to an escalate above the $0.15 level. This comes as the cryptocurrency market rebounds, with Bitcoin rising above $97,000 into the modern year.

Dogecoin price rises above $0.15 on this bullish signal

In Post XTrader Tardigrade suggested that Dogecoin price could rise above $0.15 after rebounding from Kumo supportwhich was exactly what the bullish signal meant. The rebound comes amid a broader rally in the cryptocurrency market, with major crypto assets also seeing mighty gains as Bitcoin rises above $97,000 and the psychological level of $100,000 is now in sight.

In another Post XTrader Tardigrade revealed that Dogecoin price has formed a bull flag on the weekly chart and is currently heading towards the $0.195 price level. This will bring the leading meme coin closer to psychological level of $0.2with a break above it paving the way for modern local highs.

Cryptocurrency analyst Crypto Tony highlighted the level of USD 0.154 is considered critical for the next escalate in the price of Dogecoin. The accompanying chart showed that reclaiming this level would trigger a rally above $0.16. One factor that could contribute to this bullish streak for the leading meme coin is renewed inflows Dogecoin ETFs.

SoSoValue data shows that on January 14, these Dogecoin ETFs were still seeing zero flows despite the Dogecoin price rebound. This may change soon, however, as these funds saw a significant escalate in demand earlier in the year when DOGE surged as high as $0.15, making it one of the best-performing crypto assets among the top 10 coins by market capitalization.

What’s next for DOGE, which is reaching modern highs

In Post Xcryptocurrency analyst Kevin Capital stated that a successful retest followed by a modern local high will be further evidence that the corrective phase for Dogecoin price is over. This came as it noted that DOGE, like BTC and many other altcoins, has since reverted and successfully tested its key 4-hour MA after breaking out of it in an attempt to complete its major recovery phase. The analyst added that the modern high will be breaking $0.157.

Meanwhile, a cryptocurrency analyst Bitcoinsensus suggested that the price of Dogecoin could go up to $4.50 if DOGE repeats this price macro cycle pattern. The analyst noted that so far in this cycle, the meme coin is holding steady and moving mostly sideways. Therefore, it remains to be seen whether this cycle will be as explosive as the previous ones.

At the time of writing, Dogecoin is trading at around $0.143, down over the past 24 hours, according to data from CoinMarketCap.

Featured image from Pixabay, chart from Tradingview.com