Dogecoin bulls have entered a calming phase as volume remains stable, due to which the price has started trading in a horizontal consolidation. THE DOGE Price lost a key support level at $0.34 and thus it became more important for the rally to reclaim these levels. The price faced a 60% pullback from highs above $0.22 at the end of the first quarter. Therefore, if the trend repeats, Dogecoin price is expected to close the annual trade on a bearish note, likely dipping below $0.2.
Dogecoin faces crucial levels: potential pullback or breakout to $0.7 in 2025
DOGE price kicked off 2024 trading with a massive surge, gaining over 150% after horizontal consolidation lasting over a month. Interestingly, the token repeats the same pattern and hence the fear of a 40% pullback haunts the DOGE price rise. The price is currently stuck in an ascending triangle after an extended consolidation as before and is about to test the ascending trendline.
Now that the Dogecoin price rally has entered a decisive phase, here is what to expect in 2025.
As mentioned earlier, the token is approaching crucial levels which seem quite decisive at the moment. The price has not broken the ascending trendline, which provides strong support and thus maintains the possibility of a healthy recovery. If this trade materializes, the price is then expected to trade along the ascending trendline and reach the top, followed by a breakout of the important resistance at $0.7.
Dogecoin Outlook 2025: Rally to $1 Possible After Breaking Resistance in Q1 2025
On the other hand, if the price repeats its previous trend, then it is expected to fall below $0.25 and remain consolidated around the range for some time. Unfortunately, technicals are showing a similar trend, suggesting a pullback may be imminent. Regardless of the growing bearish pressure, Dogecoin (DOGE) price remains poised to trigger a healthy rebound and restart an upward trend to reach the crucial barrier at $0.7 during the first quarter of 2025.
After reaching these levels by resisting bearish pressures, DOGE price could eventually head towards $1 in late 2025, marking the peak of the ongoing bull run.
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