Date: Sat, July 19, 2025 | 03:45 AM GMT
The cryptocurrency market remains deep in bullish territory, with Ethereum (ETH) leading the charge — gaining 20% over the past week and now trading near the $3,600 mark. This strength is spilling over into major memecoins, and Dogecoin (DOGE) is joining the rally.
DOGE has climbed nearly 22% over the last seven days, extending its 30-day gains to 46%. But beyond the price movement, a notable harmonic pattern forming on the daily chart is pointing to the potential for more upside in the near term.
Harmonic Pattern Suggests Near-Term Upside
On the daily timeframe, DOGE is tracing out a Bearish ABCD harmonic pattern. Despite its bearish label, this pattern typically signals continued bullish momentum during the CD leg before the price tests a key resistance zone, often prompting a short-term reversal.
The pattern began at point A near $0.1303 in April, rallied to point B at $0.2609, then retraced to point C around $0.1510 in late June. Since that low, DOGE has rebounded strongly and is currently trading near $0.2492, steadily progressing along the CD leg toward the final target.
If the CD leg completes, the 1.11 Fibonacci extension of the BC leg points to a potential upside target near $0.2726. This level aligns with the length of the AB leg and serves as the Potential Reversal Zone (PRZ), where profit-taking is likely.
What’s Next for DOGE?
If momentum remains strong, DOGE could still gain another 9% before reaching the $0.2726 zone. However, traders should monitor for signs of selling pressure near this level, as the harmonic structure often invites a pullback. A retest of the 200-day moving average around $0.2201 could follow any short-term rejection.
Still, as long as DOGE holds above the 200-day MA and broader market conditions remain bullish, the overall structure suggests a positive near-term outlook.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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