DOGE Rebounds to $0.26 After Saturday Slide, Eyes $0.30
Dogecoin Price Movement
- Dogecoin rebounded strongly, recovering to $0.26 after a mid-session fall on Saturday.
- Price dipped to $0.248 due to heavy trading volume, with institutional investors likely involved.
- Currently consolidating above $0.26; traders are watching the $0.30–$0.33 resistance zone.
Market Context
- DOGE traded between $0.24 and $0.27 throughout September amidst ETF filings and institutional mining investments.
- Large holders accumulated 2 billion DOGE in recent days, suggesting potential breakout patterns.
- The crypto market stabilizes after a $1.7 billion liquidation event, with DOGE attracting renewed attention.
Price Action Details
- Saw a drop from $0.254 to $0.248 on Saturday, establishing support at $0.247–$0.249.
- Volume surged to 485.6M during the selloff, indicating institutional activity.
- An ascending channel is forming, closing near $0.252 before reclaiming $0.26.
- Key resistance is noted at $0.265, with targets set at $0.30–$0.33 for potential breakouts.
Technical Indicators
- Support: Strong base at $0.247–$0.249.
- Resistance: Short-term at $0.265, with broader targets at $0.30–$0.33.
- Volume: Significant spikes confirm institutional interest.
- Trend: An ascending channel is visible from the $0.248 low.
- Momentum: A slight advance signals continued buying interest into the session close.
Traders' Focus
- Monitoring if DOGE can maintain above $0.26 for base-building confirmation.
- Awaiting SEC decisions on DOGE ETFs which could drive institutional adoption.
- Observing whale activity following the recent accumulation of 2B DOGE.
- Potential breakout towards $0.30–$0.40 dependent on momentum strength.