Dogecoin towards $5: all the bullish factors at the moment

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The price of Dogecoin, one of the best meme coins on the market, as well as the first in the segment, is again attracting investors' attention with the new roadmap proposed by a crypto analyst towards the ambitious bullish target of $5. Supported by technical patterns and optimistic signals, he identified five factors that emerge as key elements in the expected upward trajectory for DOGE.

The technical indicators of the rally for Dogecoin

A recent technical analysis on the monthly chart of Dogecoin, published by Bitcoin Galaxy on TradingView, predicts a potential massive rally, capable of pushing DOGE from the current price of $0.2449 up to $5. The analysis reveals five strongly bullish signals that could set the stage for this explosive increase.

A deep look at the monthly time frame shows that Dogecoin might be replicating the same technical setup that led to the historic rally of 2021. Firstly, the 20 and 50-month moving averages have acted as strong supports. Just as it happened in the previous bullish cycle. The price of Dogecoin has bounced off the support area, reflecting the early stages of the past bullish cycle.

Another key signal, highlighted by the analyst, is the Relative Strength Index, the RSI. Currently, the RSI of DOGE on the monthly chart is still relatively low, but shows signs of a possible rebound. On the other hand, in previous cycles, the RSI reached levels close to 80 before an explosive peak. With plenty of room to grow, Dogecoin could be ready for a new significant rally.

The chart shown by Bitcoin Galaxy also illustrates that Dogecoin has maintained a critical support level for a long time, despite market volatility, demonstrating remarkable resilience. The last time the support was successfully tested, the price of DOGE increased by approximately 20,400%.

The timing of the bullish structure also seems to align: the previous rally took about six months to reach the peak of 0.477% in 2021, starting from a similar technical setup. If the scenario were to repeat, by October 2025 there could be a new significant price peak.

June and July will be crucial time windows in which we could see significant bullish action, which could trigger or mark the peak of the anticipated rally phase. With all these technical signals aligned, Bitcoin Galaxy believes that Dogecoin could reach $5 with an increase of almost 2,000% from the current price.

Key resistance at $0.74 for momentum

A highlighted level by Bitcoin Galaxy is that at $0.74, considered the key resistance for Dogecoin. A break above this level could validate the bullish forecast towards the target of $4-5, turning it into one of the cryptocurrencies that will explode soon.

The resistance level coincides with the upper limit of an ascending channel that contains the price movements of DOGE from mid-2022 to today. A type of channel that often signals a healthy bullish trend, provided that the price remains within it.

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