The bullish start to 2025 was seen among some of the popular cryptocurrencies, like Dogecoin, which broke out above the pivot range. With this rise, the price appears to have triggered a decent recovery from the intermediate support range between $0.30 and $0.31; the token has broken out of the downtrend. Therefore, the DOGE Price It is believed to maintain a consolidated upward trend and reach the next resistance between $0.41 and $0.42.
The memecoin space has once again swung into action with popular cryptocurrencies like PEPE, WIF, BONK and SHIB, as well as DOGE, gaining immense price strength. This suggests that the tokens are preparing for the next bullish period, with DOGE price taking center stage. The top memecoin gained strong bullish momentum after breaking consolidation at $0.329 and rising after testing $0.33.
DOGE price retested broken EMAs, where rejection can be expected. However, if the price manages to cross a certain range, the bearish thesis may be invalidated.
As seen in the chart above, DOGE price has broken out of the descending trendline it had held since the second half of December. Furthermore, the MACD indicates declining selling pressure as levels are about to undergo a bullish crossover with DMI levels. This suggests that the trend is about to reverse with the resurgence of the uptrend. However, a rise beyond the intermediate resistance zone above $0.36 could validate the start of a new uptrend.
After breaking above the pivot range, there could be a possibility of a slight pullback below $0.35. Meanwhile, a rise above this level could pave the way for the token to rise above $0.41 and rise above the range around $0.42; a rise to $0.5 could be imminent. However, if Dogecoin price manages to hold above the range, it could eventually surpass the current ATH and reach $1 during the first half of 2025.