The Dogecoin price is gaining renewed attention as a crypto analyst outlines a potential roadmap toward a bullish $5 target. Backed by technical chart patterns and bullish signals, the analyst has unveiled five factors that are emerging as critical drivers in DOGE’s projected upward trajectory.
Technical Indicators Point To Dogecoin Price Rally
A recent technical analysis on Dogecoin’s monthly chart by Bitcoin Galaxy on TradingView forecasts that a massive rally could be on the horizon — one that would propel DOGE from its current price of $0.24 to $5. The chart analysis reveals five compelling bullish signals that could set the stage for this meteoric price increase.
A deep dive into the monthly time frame shows that Dogecoin is potentially repeating the same setup that led to its historic 2021 surge. First, the 20-month and 50-month Moving Averages (MA50 and MA20) have acted as solid support, just as they performed before during the last bull run. Dogecoin’s price recently rebounded from this support zone, mirroring the early stages of the previous bull cycle.
Another signal highlighted by the analyst is the Relative Strength Index (RSI). Currently, DOGE’s RSI remains relatively low on the monthly chart but is showing a potential for upward movement. In previous cycles, the RSI rose around the 80 level before a blow-off top. With ample room to grow toward 80% currently, Dogecoin’s momentum could be building for another price rally.
Bitcoin Galaxy’s chart also shows that Dogecoin has long held a critical support level despite market turbulence, showing strength and resilience. The last time this support was tested and held, the meme coin experienced a price increase of approximately 20,399%.
The timeline of Dogecoin’s highlighted bullish structure may also be aligning. The previous bull rally took about six months (181 days) to reach its peak, roughly around $0.477 in 2021, from a similar technical setup. If the same pattern unfolds, the chart suggests October 2025 could mark a significant price climax.
This timeline places June and July in a critical window, which the analyst suggests could see strong bullish action and likely trigger the start or middle of DOGE’s projected rally phase. With these signals aligned, Bitcoin Galaxy believes that Dogecoin is set for a surge to $5, representing a 1,983% increase from its current market price.
$0.74 Resistance Key To DOGE Breakout
Notably, Bitcoin Galaxy highlights the $0.74 level as a critical resistance for Dogecoin. A breakout above this threshold could validate this analyst’s bullish roadmap toward the $4 – $5 target.
Looking at the chart, the resistance level aligns with the upper boundary of an ascending parallel channel that contains DOGE’s price movements from mid-2022 to date. This channel often signals healthy upward momentum as long as the price stays within its boundaries.
Featured image from Getty Images, chart from Tradingview.com
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