Dogecoin bulls have entered a easing phase as volume remains steady and hence the price has started trading in a sideways consolidation. Dogecoin price lost the critical support at $0.34 and hence reclaiming these levels becomes more important for a rebound. At the end of Q1, the price retreated 60% from the high above $0.22. Therefore, if this pattern repeats, expect Dogecoin price to end the year trading on a bearish note and possibly drop below $0.2.
DOGE price surged sharply at the start of trading in 2024, rising by over 150% after more than a month of sideways consolidation. Interestingly, the coin is repeating the same pattern such that fears of a 40% pullback plague DOGE price gains. The price is currently trapped inside an ascending triangle after rising from a long period of consolidation and, similar to before, is about to test the ascending trendline.
Currently, the price of Dogecoin has entered a decisive phase, and here are our expectations for the rise in Dogecoin prices in 2025.
As mentioned earlier, the token is approaching what appears to be a quite decisive key level. The price has yet to break through the upward trend line, which has been a strong support, thus maintaining the possibility of a healthy rise. If this trade materializes, the price is expected to trade along the upward trend line and peak, then break through the important resistance level of $0.7.
On the other hand, if the price repeats previous trends, there are concerns that the price could fall below $0.25 and remain in that range for a while. Unfortunately, the technical indicators show a similar trend, suggesting that a pullback may be imminent. Regardless of the increasing bearish pressure, Dogecoin (DOGE) is still expected to trigger a healthy rebound and restore its upward trend, reaching the key barrier of $0.7 in the first quarter of 2025.
After withstanding bearish pressure to secure these levels, the price of DOGE could ultimately reach $1 by the end of 2025, marking the peak of a sustained bull market.