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“Yuunagi19’s main cryptocurrency held on Bybit is Dogecoin. On the first Sunday of 2025, I’ve compiled some interesting news.”
HTX Here are three scenarios that could potentially influence the price trend of Dogecoin.
Article Quote:htx
The Current Status of Dogecoin
- The current price is $0.34.
- It is testing the resistance level at the 26 EMA (Exponential Moving Average).
- Whether or not it breaks through the resistance will be a crucial factor in determining the next price movement.”
Scenario 1: Successful Breakout
- If Dogecoin clearly breaks above the 26 EMA, the bullish trend could be strengthened.
- In the short term, a rise to $0.40–$0.42 is expected.
- An increase in trading volume and the recovery of investor confidence could lead to a move towards previous highs.
Scenario 2: Rejection at the Resistance Level
- If Dogecoin fails to break above the 26 EMA, the price may decline towards the next support level around $0.30.
- A battle between sellers and buyers could continue, leading to a short-term consolidation (price stagnation).
- Consolidation could be interpreted as a preparation phase for the next attempt at an upward move.
Scenario 3: Sustained Consolidation
- If the price stagnates around the 26 EMA and no clear breakout or rejection is observed, traders will be in a wait-and-see mode for the next clear signal.
- This stagnation could be seen as a foundation being built for the next major move.
Possibility of an Increase
- If Dogecoin breaks above the 26 EMA, the community-focused style unique to Dogecoin and the overall market optimism could drive the price upward.
- There is a possibility that the price will reach a significant turning point in early 2025.
- Whether it will be a breakout or consolidation, the direction is expected to form in the next trading session.
BITCOINIST Dogecoin Price Surge: Approaching the Key ‘$0.49 Macro Golden Pocket
Article Quote:bitcoinist
Dogecoin has gained momentum over the past 24 hours, fueled by a large influx of capital into the cryptocurrency market. With the price rising by approximately 16% and approaching the $0.40 level, Dogecoin is now nearing the next key resistance level, the ‘$0.49 Macro Golden Pocket.’ This level has been a pivotal point in Dogecoin’s price movements in the past and holds the key to unlocking the next bullish breakout. In this article, we will explore the significance of this resistance zone and the path towards an all-time high.
The Current Situation of Dogecoin
With increased capital inflows into the cryptocurrency market, Dogecoin’s price has surged by about 16% over the past 24 hours. The price is now approaching $0.40.
Macro Golden Pocket ($0.49): The First Barrier
- A key resistance zone dubbed the ‘Macro Golden Pocket’ by cryptocurrency analyst Kevin.
- This level is near the 0.65 Fibonacci extension point and represents the breakthrough level required for a bullish breakout.
- In the past, it was the peak of the rally in the latter half of 2024, and after being rejected at $0.49, a correction occurred.
Next Resistance Level
- If Dogecoin breaks through $0.49, the next key resistance is $0.53 (the 0.703 Fibonacci retracement level).
- If it exceeds $0.53, $0.59 (the 0.76 Fibonacci extension level) will become the ‘final boss.’
- In the past, immediately after surpassing $0.59, Dogecoin reached its all-time high ($0.7316) within a few days.
Challenge to the All-Time High
- If Dogecoin breaks through $0.59, it is likely to update its all-time high and explore new price territories.
Current Trading Status
- As of the time of writing, the price is $0.389.
- It has recorded a 15.5% increase over the past 24 hours and a 23.5% increase over the past 7 days.
Summary
Currently, Dogecoin is on the rise, and attention is focused on the movement starting from the beginning of the week. Breaking through the 26 EMA is key, and if successful, further upward movement can be expected.
However, if it fails, there is a possibility of a correction or sideways stagnation continuing.
In any case, depending on future market trends, there seems to be a high chance that Dogecoin will aim for its past highs again!