Key Points:
The price of DOGE previously rose by 445% after a bullish crossover on the RSI.
It may break out of an ascending triangle pattern, with a target price of $0.65.
Bullish analysts suggest that the price of DOGE could reach $1 for the first time in the coming months.
The Relative Strength Index (RSI) for DOGE issued a bullish signal in the fourth quarter of 2024, during which DOGE's price increased by approximately 445% over a few months.
Currently, a similar price pattern for DOGE is unfolding on the charts, and a breakout is expected in the coming weeks.
The Relative Strength Index (RSI) is a commonly used momentum indicator in technical analysis that helps traders identify the strength and direction of asset price trends.
This indicator has issued a "bullish crossover" signal on the monthly chart, as shown in the image below.
Historical data shows that when the RSI line (purple) crosses above the SMA line (orange), DOGE typically experiences a sharp increase. The increases for Dogecoin were 302% from October 2023 to April 2024 and 445% in the fourth quarter of 2024.
"Whenever this signal appears for $DOGE, everyone should pay attention," analyst Mikybull Crypto stated in a post on X on Sunday, adding:
The chart above also shows that the bullish crossover of the RSI coincides with the price testing the 20-period simple moving average (SMA) again.
Mikybull Crypto wrote: "This is usually followed by a wave of 'massive bullish momentum.'"
On the two-day chart, the ascending triangle pattern shows a bullish outlook, with a target price of approximately $0.65, indicating a 161% increase from the current price.
However, analyst Mags is optimistic about higher returns in the future, noting that Dogecoin's funding company is interested in institutions and may receive approval for a spot ETF in mid-October.
"The 'God Candle' for Dogecoin is coming soon," the analyst stated in a post on X on Tuesday.
The chart indicates that after breaking out from several months of a downward trend, DOGE may break through the historical high of $0.73 from 2021, potentially reaching $1.20.
As reported by Cointelegraph, multiple on-chain and technical indicators are also paving the way for an increase in DOGE's price in the fourth quarter of 2025.
Related: TRUMP meme coin plummets 90% from peak, issuer seeks $200 million to establish buyback treasury
This article does not contain any investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Original article: “The last time this indicator turned green, Dogecoin (DOGE) price rose by 445%”
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