Date: Fri, April 25, 2025 | 09:10 AM GMT
After a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of life. ETH is up 12% over the past week, and this bullish momentum is now spilling over into memecoins — with Dogecoin (DOGE) showing one of the most intriguing recovery patterns.
In the memecoin pack, Dogecoin (DOGE) — which also recently went through a major correction — has managed to pull off a noticeable rebound. The memecoin has surged by nearly 17% in just over a week, trimming its year-to-date losses to around 42%. Now, a classic harmonic pattern hints that this recovery could continue further.
Source: Coinmarketcap
Harmonic Pattern Signals More Upside Move
The daily chart for DOGE, viewed through Heikin Ashi candles, reveals a Bearish Cypher pattern — a harmonic formation that often signals a bullish continuation up to a key reversal zone.
The structure starts at point X, which marked a rejection from the February 14 high of $0.2866. Price then plunged to point A, followed by a recovery bounce to point B, and another deep correction to point C, which bottomed around $0.1298 on April 7 — a 59% decline from the X point.
Dogecoin (DOGE) Daily Chart/Coinsprobe (Source: Tradingview)
Currently, DOGE is working on the final leg, CD, with strong upward momentum pushing it higher.
If this pattern completes as expected, the next major target is point D, which lines up with the 78.6% Fibonacci retracement of the X to C move — sitting around $0.2533. That marks a potential upside of 38% from the current price of $0.1827.
What’s Next for DOGE?
DOGE is entering a critical resistance zone on the CD leg — an area that could trigger either profit-taking or a quick acceleration depending on momentum.
Before reaching the final D point, the coin must first break above the intermediate resistance at $0.1896, which coincides with the 0.382 Fibonacci retracement level. A solid breakout from there could send DOGE flying toward the final Cypher target much faster.
Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before investing in cryptocurrencies.
