Dogecoin continues to consolidate just below the $0.44 level, but positive sentiment remains at its highest in years. Cryptocurrency analyst Kevin, known on social media platform X as @Kev_Capital_TA, has shared a fresh perspective on the bullish trajectory of Dogecoin's price, maintaining that the range of $1.30 to $1.50 remains a feasible target. His recent post indicates this price range as a crucial point on his macro chart, aligning with the current market sentiment surrounding Dogecoin.

Review Kevin's Previous Macro Analysis and Forecast

This bullish prediction relates to Dogecoin's price based on Kevin's prior analysis from September 18, when he outlined broader price targets as it approaches a golden cross on the weekly timeframe for the first time in four years. This technical pattern is often seen as a signal of sustainable bullish momentum.

At that time, he suggested that Dogecoin's price performance in this cycle could lead to price points ranging from $0.93 for moderate growth up to a high of $3.80 in an exceptionally strong market environment. Interestingly, both of these targets would see Dogecoin trading at new highs above the 2021 peak.

At that time, Dogecoin was trading at $0.10 and was on track to break through the upper trend line of a descending channel. Since then, the price has peaked at $0.44, corresponding to a 340% increase.

Since the analysis, the meme coin has displayed this golden cross, boosting a strong bullish outlook for its price trajectory. The updated target of $1.30-$1.50 by Kevin reflects a midpoint that encompasses both the current trajectory of the coin and its ongoing growth potential under favorable conditions.

The Path to $1.5

The sample chart of Dogecoin and broader market sentiment support Kevin's optimism. At the time of writing, Dogecoin is trading at $0.4237 and has decreased about 2.5% in the past 24 hours since reaching a peak of $0.44. Interestingly, this peak of $0.44 saw Dogecoin's price hit its highest level since May 2021.

Achieving price targets of $1.30 or $1.50 would correspond to additional increases of 172% and 240% from the current price. However, the first step will be a decisive breakout above $0.44, followed by a subsequent breakout above the current all-time high of $0.7316.

Having increased 330% in the past six weeks, Dogecoin is showing signs of sustainable growth, supported by market conditions and technical indicators. Dogecoin enthusiasts are eagerly anticipating the outcome of the scheduled speeches by government efficiency leaders Elon Musk and Vivek Ramaswamy before Congress on December 5.