Dogecoins Bullish Cross and Breakout Signal a Big Price Move Ahead
- Dogecoin flashed a bullish cross on Stochastic RSI, breaking out of a falling wedge around $0.14$0.16.
- Analyst Arslan Ali highlighted key resistance at $0.1878 and $0.24, with support between $0.143$0.16.
- DOGE trades at $0.1812, up 18.24% in a week, aiming for $1 by May 2025 if momentum holds.
Dogecoin is flashing strong signs of entering a bullish phase after a crucial technical breakout caught traders attention. On April 27, 2025, analyst Trader Tardigrade revealed that a Bullish Cross had formed on Dogecoins Stochastic RSI. This indicator is well-known for signaling the start of upward momentum.
Adding more excitement, Trader Tardigrade mentioned that $Doge also shows a breakout from a falling wedge, a pattern visible since late November 2024. Falling wedges, formed by lower highs and lows, often lead to bullish reversals. The breakout happened around the $0.14 to $0.16 range, suggesting a shift in market behavior.
The falling wedge squeezed its price movement for almost five months. That tightening action ended with a burst to the upside, which could mean further gains if buyers keep stepping in during the coming weeks.
Support and Resistance Shape Dogecoins Path
Currently, Dogecoin is trading at $0.1812, reflecting a slight drop of 0.78% over the past 24 hours. However, it has seen a remarkable 18.24% rise over the last week, helping it reach a market capitalization of $27.01 billion.
Analyst Arslan Ali pointed out on X that Dogecoin has established firm support between $0.143 and $0.16. These levels create a strong base for continued upward movement as optimism around Dogecoin grows.
On the technical side, DOGE is well-supported by a rising trendline that has been intact since mid-April. The 50-day Exponential Moving Average (EMA) at $0.1788 is also helping to keep the price stable, providing a solid safety net for traders.
Immediate resistance has been identified at $0.1878 by Arslan Ali. If the meme coin can break past this level, a challenge of $0.1929 could soon follow. Sustained momentum might even push the price up to $0.24 in the near term.
In a recent update, TronWeekly shared insights from analyst MemeCrypto, who observed that Dogecoin might be starting something bigger from the $0.18 price point. He noted that structure is building naturally, candle by candle, and the momentum doesnt seem random.
Memecrypto emphasized that momentum indicators and Exponential Moving Averages (EMAs) are supporting this rally. He pointed out that the key resistance to watch is at $0.24. If it hits that mark at the current pace, this may only be the beginning of a much larger move.
Dogecoin Eyes $1 By May 2025
Looking ahead, market analysts believe DOGE could repeat its historic bull runs and aim for $1 by May 2025. Reaching that price would push its market cap close to $100 billion, bringing back memories of its explosive rally in 2021.
Several factors could drive this surge. Bitcoin is approaching $94,000, instilling confidence throughout the crypto market. Other major coins like Ethereum, Solana, and XRP are also enjoying double-digit weekly gains. Retail investors are showing fresh enthusiasm, and whale investors are accumulating more Dogecoin.
Before DOGE can target new highs, it must overcome critical resistance at $0.24. Analysts stress that a clear move above $0.1878, backed by strong trading volume, would open the gates for a powerful rally.
Read More | Dogecoin Price Prediction: How Much DOGE Youd Need to Become a Millionaire By 2026
Read more: https://www.tronweekly.com/dogecoins-signal-a-big-price-move-ahead/
Text source: TronWeekly
