Dogecoin has recently become a focal point, with traders debating whether it will break through in a new round. It has dropped nearly 3% in the past 24 hours and is currently hovering around $0.21, a support level that may determine the next movement.
Chart structure suggests reversal potential
Dogecoin failed to hold above $0.24, and short-term momentum has weakened, but bullish patterns such as rounded bottoms, converging triangles, and potential cup and handle formations have appeared on the chart, which historically have often led to significant increases.
DOGE's trend is similar to that of 2024, forming a rounded bottom pattern: if it breaks through $0.29, it may replicate the previous rally from $0.18 to $0.49. Additionally, a converging triangle pattern is emerging, indicating a breakthrough is approaching; if the pattern repeats, it could reach $0.80 in Q4 2025.
Technical indicator signals are mixed
However, it must be said that most cryptocurrencies have similar trends; taking DOGE as an example: highs and lows have appeared, the current 4-hour trading volume is decent, and RSI may form a bullish crossover from near oversold levels, presenting short-term trading opportunities with a 6.5 risk-reward ratio.
DOGE technical indicators are mixed! From the cup and handle structure, it may rise more sharply after breaking through $0.30. Currently, $0.29 is direct resistance, and while some predict it could reach $0.80 by the end of 2025, Dogecoin's past speculative momentum has increased rapidly.
Stable: $0.19-$0.21 support zone is key: hold or rebound, break or test $0.18.
Dogecoin's on-chain transaction fees are stable, supply is healthy, and the network is under no pressure.
Currently, Dogecoin's market capitalization hovers around $33 billion, with a trading volume of about $3.4 billion, indicating decent liquidity. Valuation models like CVDD estimate its potential target price at $0.54 based on the historical trends of dormant coins, providing another data-driven perspective on Dogecoin's long-term potential.
The future path of Dogecoin
DOGE has dropped 17% in the past month, but due to its volatility, it remains of interest to retail and large investors. Analysts believe that $0.19-$0.20 is a key bottom and $0.29-$0.30 is a critical resistance level; if it can break through, it may rise to $0.38 or even higher.
Currently, various bullish patterns, strong network fundamentals, and retail enthusiasm are overlapping, and the next movement may set the tone for the 2025 market; the key is whether buyers can convert resistance levels into support to push it to bullish target levels.
