Cryptocurrency trader Javon Marks said that dog-themed cryptocurrency Dogecoin (CRYPTO: DOGE) may be encountering a corrective phase, but he is hopeful of significant upside in the ongoing cycle.

加密貨幣交易員Javon Marks說，以狗為主題的加密貨幣（Crypto：Doge）可能會遇到一個糾正階段，但他希望在正在進行的周期中有重大上漲空間。

What Happened: Javon Marks, a widely followed chartist, shared their analysis of Dogecoin’s potential trajectory on Sunday. He said, “Dogecoin, by its previous cycles, has a high likeliness to make a run to and above $2.28.” Should the prediction come true, it’d mean a whopping 12x upside from the current price.

發生的事情是：賈萬·馬克斯（Javon Marks）是一位受到關注的Chartist，分享了他們對Dogecoin在周日潛在軌蹟的分析。他說：“ Dogecoin以前的周期很有可能在2.28美元的價格上漲。”如果預測成真，那意味著與當前價格相比，上漲了12倍。

The analyst said that these levels act as the 1.618 Fibonacci Level, which DOGE managed to hit and exceed in previous bull cycles, making the chances of it happening again in the current cycle a bit higher.

這位分析師說，這些水平是1.618斐波那契水平，Doge在先前的Bull Cycles中設法擊中並超過了它，這使其在當前週期中再次發生這種情況的機會更高。

Fibonacci retracement is a technical analysis tool that uses ratios derived from the Fibonacci sequence to determine probable support and resistance levels. These are then used to predict reversals or continuations. The 1.618 level, often referred to as the “golden ratio,” is particularly significant.

斐波那契回縮是一種技術分析工具，它使用從斐波那契序列得出的比率來確定可能的支持水平和電阻水平。然後將這些用於預測逆轉或連續性。通常稱為“黃金比率”的1.618級別尤其重要。

In the analysis shared on X, formerly Twitter, Marks also noted that a break and close above $1.15 could be crucial for setting the stage for further upside in the cryptocurrency.

在以前是Twitter的X上分析的分析中，Marks還指出，休息時間超過1.15美元對於為加密貨幣的進一步上升空間而言至關重要。

Dogecoin

狗狗

Credit: zernl via Pixabay

學分：Zernl通過Pixabay

What Else Is Important: Asghar noted that DOGE’s structure remained “strong” within an ascending broadening wedge, setting a price target of as much as $3.8.

還有其他重要的事情：阿斯加爾指出，在越來越大的楔形楔形中，Doge的結構保持“強大”，其目標目標為3.8美元。

The ascending broadening wedge is a bearish reversal pattern, as part of which price makes higher highs and higher lows before a downward breakout.

上升的寬闊楔形是一種看跌的逆轉模式，作為價格的一部分，在下降之前，價格會更高和更高的低點。

However, the cryptocurrency broke out to the upside, which could be setting the stage for a substantial rally in the coming weeks.

但是，加密貨幣爆發了上升空間，這可能在接下來的幾週內為大量集會奠定了基礎。

"The structure remains strong as we broke out to the upside here setting the final leg to 3.80 as the pattern target," Asghar said.

阿斯加爾說：“當我們爆發到這裡的上行空間時，該結構仍然很強。”

Despite the upbeat predictions, both analysts cautioned that the cryptocurrency market is highly volatile, and anything can happen.

儘管有樂觀的預測，但兩位分析師都警告說，加密貨幣市場非常波動，任何事情都可能發生。

It is important to conduct thorough research and due diligence before making any investment decisions.

在做出任何投資決策之前，進行徹底的研究和盡職調查很重要。

See More: Best Cryptocurrency Scanners

查看更多：最佳加密貨幣掃描儀