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An analyst on TradingView presented a technical outlook that contrasts with prevailing market sentiment, suggesting that Dogecoin is still forming the cup phase of a cup and handle pattern rather than completing the handle as many believe. 

This alternative perspective frames the recent price movements not as a retest following a breakout, but as part of a much longer consolidation phase that began after Dogecoin’s 2021 peak. Nonetheless, the consensus is the same, and this setup suggests that the Dogecoin price is about to recover towards $0.4.

Cup Formation Since 2021 Still In Progress

According to the analyst, the cup and handle pattern visible on Dogecoin’s chart has been developing for nearly four years, with price rounding off a wide base that stretches back to its previous all-time high. This interpretation diverges from the majority view, which argues that Dogecoin completed the cup structure, broke out of the neckline resistance late last year, and is now in the handle phase before another leg upward. 

Instead, the current analysis argues that Dogecoin remains in the latter stages of the cup phase, with no handle formation yet confirmed, and that accumulation is still unfolding. Price holding above key exponential moving averages supports the idea that buyers are gradually building positions during this drawn-out bottoming process.

The resistance zone around $0.48 is seen differently in this analysis as only part of the cup formation. From this perspective, the breakout has not occurred, and any move toward $0.4 would be part of a continued upward grind into the neckline. This puts the focus not on handle formation or retest of breakout point, but on the development of a complete cup structure that could eventually set the stage for a classic handle and breakout rally.

Accumulation In Cup Phase To Push Dogecoin To New Highs

Many analysts have written off Dogecoin’s recent pullback as part of a handle retest following a breakout, but this technical setup implies that the price is still climbing toward a breakout point that is yet to be reached. Based on this outlook, a move toward $0.4 could serve as part of the final uptrend in the cup structure, after which a handle might finally take shape. 

If the pattern plays out as described, Dogecoin could see short-term gains before pausing for consolidation at higher levels between $0.4 and $0.5. The real breakout above the neckline resistance is above these levels, before a subsequent handle formation. 

Nonetheless, the most notable price level to watch for a true confirmation of the bullish continuation is $0.48. At the time of writing, Dogecoin is trading at $0.1967. The past 24 hours have been characterized by a brief break above $0.2, which is currently the most significant short-term price resistance to overcome.

Featured image from Adobe Stock, chart from Tradingview.com

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Crypto analyst Dark Defender has again provided a bullish outlook for the XRP price, predicting that the altcoin will be the “one” over Bitcoin and Ethereum. The analyst outlined why he is confident that XRP could soon dominate the leading cryptocurrencies by market cap.

Why The XRP Price Could Dominate Bitcoin & Ethereum

In an X post, Dark Defender outlined reasons why the altcoin is the “One” and why the XRP price will dominate Bitcoin and Ethereum. First, he stated that the altcoin is the only coin with regulatory clarity, considering that Judge Analisa Torres has declared that the altcoin isn’t a security. Moreover, the US SEC has dropped the Ripple lawsuit, which is also bullish for the altcoin.

Secondly, the analyst alluded to the fact that XRP could be included in the Digital Asset stockpile, which US President Donald Trump created through an executive order. He also remarked that ETF approvals are imminent, which also provides a bullish outlook for the altcoin.

Market expert Nate Geraci also recently predicted that XRP ETF approval is only a matter of time. Polymarket data also shows that there is an 87% chance of an approval this year.

Meanwhile, Dark Defender stated that Ripple stablecoins are coming including ones that will be pegged to other currencies, just like the RLUSD. In line with this, the analyst asserted that it was not Bitcoin and it has never been ETH but instead XRP.

In another X post, Dark Defender stated that XRP has formed a great bullish rectangle pattern. Based on this, he asserted that this consolidation will be over very soon and that the next leg will welcome new all-time highs. His accompanying chart showed that the altcoin could rally to $11 when this consolidation period is over.

Bear Case For The Altcoin

Amid this bullish outlook for the XRP price, legendary trader Peter Brandt has raised the possibility of the altcoin dropping to as low as $1.07. He revealed that the crypto is forming a textbook head-and-shoulder pattern. The trader added that XRP is now range bound.

Above $3, Brandt stated that he would not want to be short while below $1.9, he would not want to own the altcoin. He further remarked that the bearish pattern projects a decline to $1.07.

However, other crypto analysts such as Javon Marks are still bullish on the altcoin. Marks recently suggested that the XRP price could witness a 570% surge as price and RSI break out to the upside.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.