Dogecoin price broke above a huge bullish pattern, which has flipped the technicals from bearish to bullish, hinting towards the beginning of a fresh upswing.
With the current rise, the bulls seem to have aimed for a 200% increase which could clear all the barriers from marking a new ATH
The past week turned out to be one of the most profitable weeks for the crypto markets, as after a long consolidation, the tokens broke out before the close. Dogecoin price, which was stuck within a pattern for more than a month, experienced a 40% upswing, which not only broke the resistance of the pattern but also helped the popular memecoin to enter the massive bullish range.
Meanwhile, a couple of technicals for the DOGE price may witness a bullish crossover, which could trigger a 200% upswing, prevailing for the next couple of weeks.
After the recent breakout, the DOGE price has entered its mark-up phase in the weekly chart with plenty of room to maintain an upward trajectory before encountering major resistance. Besides, the DOGE/BTC pair signals a bullish pattern that has led the DOGE price to spike by over 30,000% in the past cycle. The same chart has appeared that occurred just before the 2021 breakout and hence, if the same breakout repeats, then the new ATH may be well above just a dollar.
In the coming days, the surge in the BTC price is expected to cause a sudden drop in the DOGE/BTC pair, which suggests the rising strength of Dogecoin compared to Bitcoin. Besides, the BTC price is expected to trade sideways within a range close to the gains. This could be when the Dogecoin price, along with the other altcoins, is expected to remain elevated for several weeks. While the price is rising above $0.23, will it be able to reach the pivotal resistance at $0.75 before the end of the month?
The weekly chart of DOGE price suggests an incremental trajectory as the price enters the expanding channel after breaking out from the ascending triangle. On the other hand, the weekly MACD displays a drop in the selling pressure while the levels are heading for a bullish crossover. On the other hand, the BMSB (Bull Market Support Band) is also close for a similar crossover. Previously, these crossovers have resulted in 155% and 350% in 2024. With the similar technicals in place, the price is expected to rise by more than 260% and mark a new ATH.
But the question arises, will the DOGE price make it to $1 in Q2 2025?
The Dogecoin price has entered within an expanding channel after rebounding from the levels lower than the support zone. The volume remains lower than the previous breakouts in 2024, which could raise some concerns. However, the price has surged within the bullish range and until it sustains above $0.22, the prospects of an extended upswing with the short-term target at $0.35 and a long-term target at $0.75. This could further lead the memecoin towards a new ATH at around $0.85.
Nevertheless, a pullback could be on the way before the Dogecoin (DOGE) price marks $1; however, the timeline could be deferred for a few days but the target for Q2 2025 could remain unchanged.
