Dogecoin (DOGE) has surpassed significant resistance levels and technical indicators point to a bullish outlook. Will DOGE reach $0.35 and challenge its previous price zones?
After an overnight price surge in Bitcoin, the meme coin market has seen significant improvement. With a new wave of bullish momentum, Dogecoin is up 4.22% in the last 24 hours.
Furthermore, the market cap of meme coins has reclaimed the $100 billion mark. Could upside be in sight in 2025 if the recovery rally breaks above critical resistance levels?
Dogecoin price analysis
On the 4-hour chart, Dogecoin price action shows a bullish recovery that gains momentum from the $0.30 demand zone. The recovery has broken a local resistance trendline that previously dominated the short pullback phase.
With the trendline breakout, Dogecoin’s rally is now challenging the 38.20% Fibonacci level at $0.3303. Additionally, the recovery faces higher price rejection from the 100 EMA at $0.3357.
Currently, Dogecoin is trading at $0.33053 with the short-term recovery having a significant bullish impact on the 20-EMA line. This average line is preparing for a bullish crossover with the 50 EMA, signaling positive momentum.
Furthermore, the bullish recovery from the $0.30 demand zone supports the bullish divergence of the RSI. The 4-hour RSI has reached 60.15 and is preparing to enter the overbought zone. Technical indicators therefore signal a buy for Dogecoin.
DOGE price targets
Based on Fibonacci levels, the short-term recovery rally that broke the local trendline is expected to exceed the 50% Fibonacci level at $0.3551….
