DOGE Bulls Charge Ahead: Dogecoin Breaks Key Resistance with 7% Surge
Dogecoin (DOGE) has made a significant bullish move, surging 7% as it broke through a key resistance level. This rebound from a two-month low of $0.1508 to a session high of $0.1632 signals a potential shift in market sentiment. Despite broader market volatility fueled by geopolitical tensions between the U.S. and Iran, traders aggressively stepped in following a technical breakout. The meme coin's breakthrough of a long-standing descending trendline confirms a change in short-term market structure, with hourly RSI readings also showing recovery. This development could pave the way for further gains in the coming days, as Dogecoin continues to capture the attention of crypto enthusiasts and traders alike.
Dogecoin Surges 7% as Bulls Break Key Resistance
Dogecoin surged 6.56% over the past 24 hours, rebounding from a two-month low of $0.1508 to a session high of $0.1632. Traders aggressively stepped in following a technical breakout, defying broader market volatility triggered by heightened geopolitical tensions between the U.S. and Iran.
The meme coin broke through a long-standing descending trendline, confirming a shift in short-term market structure. Hourly RSI readings recovered from oversold territory, while netflows turned neutral, suggesting sell-side exhaustion may have run its course.
Despite global risk-off sentiment fueled by U.S. airstrikes in Iran, Dogecoin showed relative strength, outpacing Bitcoin and ethereum in its recovery. A sharp increase in trading activity, including a 3.77% price spike in under 60 minutes on 800 million units of volume, drove the rally.
Technical analysts now eye a potential retest of the $0.17–$0.18 range if volume persists and risk sentiment stabilizes. Network fundamentals remain robust, with transaction volume and active wallet counts trending higher.
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Dogecoin Eyes Rebound as $0.21 Resistance Holds Key to Trend Reversal
Dogecoin's five-week downtrend has erased nearly all gains from its mid-May 58% rally, with the meme coin dipping below its May low on June 20. Long-term holders grow wary as Doge struggles to maintain momentum.
The $0.21 level emerges as a critical resistance zone that could determine the asset's next major move. Historical data suggests this price point may serve as a springboard for another upward leg—if reclaimed as support.
On-chain metrics reveal subtle bullish signals despite the price action. Negative exchange netflows over the past fortnight indicate accumulation rather than distribution, suggesting strategic positioning by some investors at current levels.