Dogecoin (DOGE) Price Targeting $1 As The Market Regains Its Bullish Momentum

The broader cryptocurrency market has regained its bullish momentum, propelling Dogecoin (DOGE) to revisit the $0.19 price mark. This recent upswing underscores DOGE's resilience

The broader cryptocurrency market has regained its bullish momentum, propelling Dogecoin (DOGE) to revisit the $0.19 price mark.

This recent upswing underscores DOGE’s resilience, even in an environment rife with fear and uncertainty following United States President Donald Trump’s tariff decisions and turbulent macroeconomic conditions.

Dogecoin has shown strong resistance to downward pressure, indicating the possibility of an impending breakout.

Dogecoin Is Attempting A Bullish Breakout

Crypto analyst and content creator Trader Tardigrade has identified a key development in DOGE’s chart on the Daily chart.

The asset is currently approaching a key breakout point from a Descending Trendline, which has been presenting resistance to the coin’s recovery attempts.

Historically, DOGE has encountered difficulties sustaining momentum after making contact with this resistance, resulting in stalled attempts to breakout. However, the current price movement shows another strong push towards the trendline.

While DOGE struggles to break out of the resistance pattern, its Relative Strength Index (RSI) has already managed to move above the trendline, showcasing an increase in bullish momentum.

This upward RSI movement suggests that the coin is gaining strength, potentially fueling a larger breakout from the Descending Trendline.

DOGE’s Descending Trendline Resistance | Source: Trader Tardigrade on X

According to the analyst, a breakout above this key trendline could be the catalyst for a substantial rally in the coming weeks.

If this breakout occurs, it might ignite interest from other traders and investors, serving as a launchpad for higher price levels.

On the other hand, a failure to pierce through this resistance may result in DOGE dropping back below $0.15 in the short term.

Technical Indicators Point To Uptrend

Several key indicators support Dogecoin’s potential for an upward surge. The Moving Average Convergence Divergence (MACD) indicator has recently emerged from a period of consolidation, which historically has preceded significant price movements for the asset.

The last time DOGE witnessed such a MACD breakout, it experienced a strong rally to new yearly highs. Based on this pattern, Trader Tardigrade predicts another substantial price surge in the coming weeks, with the potential to reach the coveted $1 milestone.

Dogecoin’s bull market cycle is nearing its end

Amid growing confidence in the broader cryptocurrency market, DOGE appears poised for a major comeback. If a price reversal occurs at this juncture, it could signal the final phase of Dogecoin’s ongoing bull market cycle.

Trader Tardigrade suggests that Dogecoin is currently in the final stage of Cycle 3, which commenced in late 2020 with the cryptocurrency’s recovery from the March 2020 crash.

If this cycle follows the same trajectory as past ones, the meme coin could witness an explosive price increase, reaching an estimated peak of $6 in the upcoming weeks as it completes the final stage of the cycle.

What’s Next For Dogecoin?

The next few weeks will be crucial for DOGE, as traders and investors keep an eye on its price action and key resistance levels. With renewed bullish sentiment across the market, Dogecoin has the potential to reclaim higher price levels and establish new all-time highs.

If DOGE successfully breaks above the descending trendline, it could trigger a surge in investor confidence, propelling the asset towards new highs. Conversely, failure to sustain this momentum may lead to short-term corrections, but long-term bullish sentiment remains intact.

Dogecoin is at a pivotal moment, with strong bullish indicators and technicals suggesting an impending breakout. As market sentiment improves and technical indicators align, DOGE could see a significant rally in the coming weeks.

Investors and traders should be vigilant in monitoring this key resistance level, as its breach could propel Dogecoin to soar to new milestones.

With the possibility of reaching $1 and beyond, Dogecoin continues to prove its resilience and potential in the volatile crypto market. As the bull market cycle nears its peak, DOGE’s next move will be crucial in solidifying its position among the top cryptocurrencies in the industry.