The price of Dogecoin has dropped from its peak in late July at $0.28 over the past few days and is currently testing key support levels near $0.20. Despite its short-term weakness, the meme coin still possesses structural bullish expectations. As of this writing, many chart patterns and experts indicate a potential rise toward the expected $1 level before the end of 2025.
Dogecoin tests support level amid market weakness.
Currently, Dogecoin's price today has fallen below its 50-day and 200-day moving averages, trading at $0.207. This price decline is attributed to recent macroeconomic volatility, such as tariffs imposed by President Trump on imports, and a more cautious stance from the Federal Reserve.
This has led to a low-risk environment, prompting capital to flow from high-risk cryptocurrencies to safer assets. As a result, the DOGE/USD pair price has come under pressure, with traders closely monitoring these support levels for potential reversal signals.
The Relative Strength Index (RSI) indicates a reversal in the DOGE price chart over 4 hours.
Despite the decline, momentum indicators on shorter timeframes suggest a potential bullish reversal. Recent analysis of DOGE's price on the four-hour timeframe shows that the Relative Strength Index (RSI) has bounced above the 50 level, which is generally considered an early signal of momentum change.
This recovery, described as a "sudden surge", suggests that the meme coin may enter a new medium-term bullish trend as buyers begin to enter. Market watchers are now looking for confirmation of the continuation of this trend in the coming days.
Trendline support and wedge formation feed DOGE stock price expectations at $1.
Looking at the broader daily chart, Dogecoin price prediction models remain positive. The cryptocurrency continues to adhere to an upward trend support line while facing a curved resistance zone. Analysts believe this technical structure favors a stable recovery.
On the weekly timeframe, the DOGE price chart shows an expanding ascending wedge pattern, which is generally considered a bullish continuation pattern. If DOGE surpasses the $1 level as expected, it may see a move towards $1.40 by the end of the year. These levels support long-term price movement, which has maintained an upward structure over the past few months.
Smart Money targets the long-term rise of Dogecoin.
While retail trader sentiment remains mixed, the overall price outlook for Dogecoin indicates that smart money may be quietly accumulating. The convergence of multiple bullish signals across timeframes, from the RSI bounce over 4 hours to the expanding wedge pattern on the weekly chart, reinforces confidence in the ongoing rise.
If the bullish momentum continues, Dogecoin's price could quickly recover its July high and move toward the psychological resistance zone at $0.40, $0.60, and finally at $1.
