DOGE Price Poised to Surge Above $0.5 If This Trade Plays Out Well
Some popular cryptocurrencies have witnessed a bullish start to 2025, such as Dogecoin, which has surged above key ranges. With this rise, the price appears to have rebounded significantly from the temporary support range between $0.30 and $0.31; the coin has broken out of a bearish pattern. therefore, dog price The consolidating uptrend is expected to maintain and reach the next resistance level between $0.41 and $0.42.
The memecoin space is once again active, with popular coins such as PEPE, WIF, BONK, and SHIB, as well as DOGE, all seeing huge price increases. This suggests that the coin is preparing for the next bullish period, with DOGE price taking center stage. The top memecoin gained strong bullish momentum after breaking out of the $0.329 consolidation and rising after testing $0.33.
DOGE price retested the broken EMA and rejection is expected. However, the bearish argument may be invalidated if the price breaks out of a certain range
As shown in the chart above, DOGE price has surged above the downtrend line from the second week of December. Additionally, MACD indicates a decrease in selling pressure and the level is about to form a bullish crossover with the DMI level. This indicates that a trend reversal is imminent as the bullish trend revives. However, a break above the temporary resistance zone above $0.36 could validate the start of a new bullish trend.
After breaking out of the key range, a minor pullback below $0.35 is possible. Meanwhile, a break above this level could pave the way for the coin to rise above $0.41 and stabilize above the range around $0.42; a rise to $0.5 may be imminent. However, if the price of Dogecoin can sustain above this range, it could eventually rise to its current high levels and reach $1 in the first half of 2025.
