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

Dogecoin (DOGE) price action has cooled over the past four weeks after breaching the 0.35 multi-month resistance level in early November.

While the daily chart remains bearish, the crypto asset lost support from the 50-day EMA level on December 19 and has yet to recover above the indicator.

Despite these short-term concerns, one analyst suggested that Dogecoin's long-term target for 2025 remains high, given its previous bull run performance.

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Dogecoin target is between $2.35 and $2.60.

The CEO, an anonymous crypto investor, told his 536,000 followers on X that Dogecoin is on track for a big rally in 2025. With the help of a weekly chart, the investor has already shown the weekly resistance and support levels, highs and lows. It was held in the old bull run.

The same pattern is repeated in 2024, and Dogecoin is in the final phase before a resistance rally.

Similarly, technical analyst Chandler Bing has Memcoin's long-term price range between $2.35 and $2.60, a 683% gain from its current price. While the target seems distant at the moment, the analyst called it a “conservative target”.

The analyst emphasized that the target was set based on Dogecoin's performance against Bitcoin and Ethereum during previous bull runs.

Javan Marks, a crypto trader, also set a similar price target of around $2.30, based on Fibonacci retracement levels. The analyst said.

The story is unchanged and still shows that the price is likely to break above the 1.618 Fib Extension level and above the 1.618 Fib Extension level. From here it went up to $2.28+!”

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Is Dogecoin Down?

On December 20, Dogecoin saw a flash rise to $0.262, but the crypto asset rebounded to over $0.30 on the same day. Since then, Dogecoin has remained close to above $0.30 on a daily basis, but the price remains below the 50-day EMA level.

Based on the historical perspective, the bottom may be for Dogecoin as it has already shown liquidity at key levels at $0.32 and $0.34. Earlier this month, Cointelegraph reported the formation of a fractal from January 2024, which is a bearish confirmation that pulls it down by 25-30%.

In December 2024, the same thing happened with DOGE, the crypto asset is building downwards after a recent 25% decline.

As the Relative Strength Index (RSI) dips below 30, selling pressure is nearing exhaustion, and a retracement above $0.35 would be a potential high for DOGE in 2025.

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This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.