Dogecoin Rises 6.56% After Breaking Key Resistance Level
Dogecoin (DOGE) Performance Summary
- DOGE increased by 6.56% in 24 hours, moving from $0.1508 to $0.1632.
- The surge followed a technical breakout and was driven by aggressive trading.
- Despite geopolitical tensions between the U.S. and Iran, DOGE maintained its momentum.
Market Context
- Global markets experienced volatility due to renewed military activity in the Middle East.
- Dogecoin outperformed Bitcoin and Ethereum during the selloff.
- Trading volume peaked at over 800 million units within an hour, contributing to price gains.
- Potential for a retest of the $0.17–$0.18 range if trading volume remains high.
- Transaction volume and active wallet counts have increased over the past week.
Price Action Overview
- DOGE traded between $0.1508 and $0.1632, settling around $0.1615.
- A clear break above $0.162 has established a short-term higher high.
- $0.165 is the next resistance level; $0.162 serves as support.
- Minor consolidation occurred in the final hour, forming a potential bull flag.
Technical Analysis
- DOGE rose from $0.153 to $0.1632 over 24 hours.
- Bullish breakout confirmed by breaking a descending trendline.
- Support established at $0.150 after reaching a two-month low.
- RSI indicates exit from oversold conditions; MACD suggests potential continuation.
- Final-hour pullback indicates healthy consolidation.