Dogecoin Price Eyes 58% Move Upward If This Major Level Is Broken

The Dogecoin price is once again in the spotlight, stirring up bullish excitement as a crypto analyst predicts a potential 58% upside move in the near term. After bouncing off key support zones, the analyst forecasts that a successful breakout above critical resistance levels could propel the altcoin to a new price high. 

Dogecoin Price Roadmap To Explosive 58% Rally

X (formerly Twitter) Crypto analyst, Dariusz Kowalczyk, reports that Dogecoin is now showing signs of a potential breakout, following its recent rebound from a critical support level near the $0.14-$0.15 range. This level had previously acted as a strong floor during downward moves. After its bounce from this range, DOGE’s price now sits around $0.165, signaling a possible end to its prolonged downtrend. 

Market data from the analyst’s daily chart shows early signs of a bullish reversal pattern forming. Dogecoin’s price action on the chart also highlights a shift in momentum, with buyers stepping in after an extended decline from the early June highs. 

With Dogecoin’s structure now suggesting a possible bullish setup, Kowalczyk predicts that the meme coin could surge to $0.26 if it can decisively break above the immediate resistance around $0.17. This would represent a gain of approximately 58.19% from current price levels. 

Interestingly, the projected $0.26 target aligns with the peak levels reached during Dogecoin’s strong upward move in May, where its price faced heavy resistance and eventually reversed. Kowalczyk’s projected move is based on a measured bounce pattern, illustrated on the chart with a vertical arrow showing the range of $0.164 to $0.26, implying a gain of $0.0955 before the end of July. 

Notably, this bullish thesis relies heavily on Dogecoin building enough momentum above the $0.16 mark and gaining enough strength to break above overhead resistance. If the price is rejected below the $0.17 resistance, this bullish setup could be invalidated, placing continued downward pressure on the meme coin. 

Analyst Predicts Short-Term  Dogecoin Price Target

In another X post, crypto market expert Bitguru reveals that Dogecoin is likely on a path to a price recovery after its recent rebound from a critical local low of $0.143. The analyst’s chart illustrates a sustained downtrend throughout June, with price action forming highs and lower lows. Following a brief consolidation phase near $0.204 earlier in the month, the meme coin resumed its decline, culminating in a major low around $0.143. 

At the time of the analysis, DOGE was trading $0.1619, slightly below its current price of $0.165. The chart highlights that $0.163 is a key area of interest, which acts as a short-term resistance. Bitguru also notes that if buyers manage to reclaim this level, bullish momentum could build toward Dogecoin’s next immediate target of $0.172.