Dogecoin price ‘conservative target’ starts at $2.35 based on DOGE bull market fractal

Dogecoin: Price Target Projections Aim High Amidst Slowed Momentum

Following its breakthrough of the $0.35 resistance level in November, Dogecoin's price action has slowed in recent weeks.

While the daily chart signals bullishness, the cryptocurrency lost support from its 50-day EMA on December 19 and remains below it.

Despite these short-term concerns, analysts anticipate significant upside potential for Dogecoin in 2025, based on its previous bull run performance.

Long-Term Target: $2.35-$2.60

Anonymous crypto investor CEO predicted a substantial rally for Dogecoin in 2025. They identified a range of $2.35 to $2.60, representing a 683% gain from its current price.

Technical analyst Chandler Bing concurred with the long-term price range, emphasizing that the target was保守(conservative)". It was derived from Dogecoin's relative performance to Bitcoin and Ethereum in past bull runs.

Crypto trader Javon Marks projected a similar price target of around $2.30 based on Fibonacci extension levels.

Bottom in Sight for Dogecoin?

On December 20, Dogecoin experienced a brief drop to $0.262 but quickly recovered above $0.30. It has maintained a daily close above that level since then, although it remains below its 50-day EMA.

Historical analysis suggests that a bottom may be forming, as Dogecoin has swept key liquidity levels at $0.32 and $0.34. The relative strength index (RSI) also indicates that selling pressure is nearing exhaustion, with a move back above $0.35 signaling a new higher high for Dogecoin in 2025.

Disclaimer:

This article provides general information and should not be construed as legal or investment advice. The opinions expressed are solely those of the author and may not reflect the views of Cointelegraph.