Dogecoin has struggled to hold above the $0.20 price level in the past 24 hours, following a break below this level in late February. However, a crypto analyst believes that the current price action fits within a pattern that historically precedes major rallies for DOGE on higher timeframes. The analyst notes that Dogecoin has revisited its previous local peaks multiple times before entering sustained rallies, suggesting that the current consolidation phase around $0.22 could last for several weeks before the next leg up. The analyst predicts a price target above $0.8 for the next rally, potentially surpassing Dogecoin's previous all-time high of $0.7316. Additionally, the 4-hour Relative Strength Index (RSI) has broken out of a descending trendline, indicating bullish momentum. However, Dogecoin still needs to break out of its Descending Trendline for the uptrend to fully take shape. At the time of writing, Dogecoin is trading at $0.2062.



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