The bullish start to 2025 has been seen in some popular cryptocurrencies such as Dogecoin, whose price has surged above a critical range. With this rise, the price seems to have triggered a respectable rebound from the interim support range of $0.30 to $0.31; the coin has broken out of the bearish pattern. Therefore, it is believed that the Dogecoin price will maintain a solid uptrend and reach the next resistance level between $0.41 and $0.42.
The memecoin space is active again with popular tokens such as PEPE, WIF, BONK, and SHIB, along with DOGE, which has also seen a sharp increase in price. This shows that these tokens are gearing up for the next bull run, with DOGE’s price taking center stage. The top memecoin gained strong bullish momentum after breaking out of the $0.329 consolidation and moving higher after testing $0.33.
DOGE price retested the broken EMA and one could expect to see a rejection. However, the bearish thesis could be invalidated if the price manages to cross a range.
As shown in the above chart, DOGE price has surged above the downtrend line that has been in place since the second half of December. Moreover, the MACD indicates a decline in selling pressure and the levels are about to undergo a bullish crossover along with the DMI levels. This suggests that a trend reversal is imminent as the bullish trend revive. However, if the price breaks out of the temporary resistance zone above $0.36, it may confirm the start of a new bullish trend.
After breaking out of the critical range, a minor correction below $0.35 is likely. Meanwhile, a breakout of this level could pave the way for the coin to move past $0.41 and consolidate above the range around $0.42; a move to $0.5 could be imminent. However, if the Dogecoin price can sustain above the range, it could eventually break out of the current all-time high and reach $1 in the first half of 2025.
