The beginning of 2025 has seen a strong bullish trend among popular cryptocurrencies such as Dogecoin, which has surged above key levels. This rise has led to a significant recovery from the support range between $0.30 and $0.31, pushing the token beyond previous bearish patterns. As a result, it is expected that the DOGE price will continue on an upward trend and reach the next resistance levels between $0.41 and $0.42.
The meme coin market is also showing signs of activity with tokens like PEPE, WIF, BONK, and SHIB, in addition to DOGE, gaining strength. This indicates that these tokens are gearing up for a bullish phase, with Dogecoin taking the lead. Breaking through the consolidation at $0.329, the top meme coin has gained strong bullish momentum and is now testing higher levels.
DOGE price has re-tested the broken EMAs, which may lead to some resistance. However, if the price is able to surpass a certain range, the bearish outlook could be invalidated.
Looking at the chart above, DOGE price has broken above the descending trend line that has been holding since mid-December. Additionally, the MACD is showing a decrease in selling pressure, with levels indicating a potential bullish crossover alongside DMI levels. This suggests a shift in trend towards a bullish direction. A move above the interim resistance zone above $0.36 could confirm the start of a new bullish trend.
Following the surge above key levels, there might be a slight pullback below $0.35. However, surpassing this level could pave the way for further gains towards $0.41 and potentially reaching $0.42; a move towards $0.5 could be on the horizon. If Dogecoin price manages to hold above these levels, it could eventually break its all-time high and reach $1 by the first half of 2025.
