Dogecoin Recovers to $0.153 After Weekend Selloff
Dogecoin (DOGE) recovered sharply after a weekend selloff that saw its price drop to $0.143, before rebounding above $0.153. The recovery was supported by trading volume exceeding five times the daily average, indicating strong buyer interest at critical support levels.
News Background
- Macroeconomic uncertainty is impacting digital assets, with geopolitical tensions and trade disputes increasing market volatility.
- Concerns about inflation and Federal Reserve monetary policy are fostering cautious sentiment in crypto markets.
- DOGE's rebound occurred during significant selling pressure, with support at $0.145 triggering a reversal.
- Despite being volatile, Dogecoin's recovery indicates market resilience compared to broader altcoin weakness.
- Analysts are monitoring DOGE's ability to maintain momentum above $0.153 and overcome short-term resistance as bullish volume grows.
Price Action
DOGE experienced a 9.1% price range in 24 hours, dropping from $0.157 to $0.143, then closing near $0.153. The most significant selling happened between hours 13–14, where volume spiked over five times the average, establishing support at $0.145.
In the final trading hour, Dogecoin rose from $0.152 to $0.153, with a breakout above $0.153432 noted after 04:58. Volume surged again at 05:11 (10.7M), confirming buyer strength and leading to a new local high.
Technical Analysis Recap
- DOGE fluctuated from $0.157 to $0.143 before rebounding to $0.153 — a 9.1% swing.
- Volume spike during hours 13–14 confirmed support at $0.145.
- Uptrend established with higher lows from $0.145 to $0.152.
- Breakout above $0.153 occurred post 04:58, reaching $0.153432.
- Volume increase at 05:11 validated breakout strength.
- Sustained bullish momentum and consolidation above $0.152 noted in the final hour.
- Current price action targets the $0.155–$0.158 zone, with $0.145 as key support.