Dogecoin Smashes Resistance: Is a Run to New All-Time Highs Inevitable?

Dogecoin just bulldozed through a critical resistance level—and the memecoin's army is smelling blood. Could this be the launchpad for a historic rally?

Price action explodes past key barrier

The DOGE chart shows textbook breakout behavior after weeks of consolidation. Traders are now watching whether this is just a fakeout or the real deal.

Liquidity hunt or sustainable momentum?

While the technicals look bullish, skeptics point to Dogecoin's history of violent retracements. 'This isn't investing—it's gambling with better graphics,' quips one Wall Street quant.

The path to ATH

If buying pressure sustains, the road to all-time highs looks clear. But in crypto, 'if' is the heaviest two-letter word in the dictionary.

Key Insights:

• Dogecoin price formed a daily hammer candlestick near $0.19, signaling a potential bullish reversal at key support.
• DOGE price rallied over 5% in the last 24 hours and 17% in the last 7 days, trading over $0.20
• DOGE broke out from a falling wedge with a target projection near $0.43

Dogecoin (DOGE) price gained fresh momentum after breaching a major resistance area around the $0.20 mark, raising interest among traders and analysts. The action was preceded by a technical breakout pattern and a bullish candle pattern.

Consequently, this signaled a shift in sentiment that could mark the beginning of a broader bullish trend.

Dogecoin Price Hammer Candlestick Forms

Dogecoin price just produced a hammer candlestick on the daily chart, and closed just above $0.192 after an intraday low of 0.185.

The formation is commonly linked to reversing bullish moves and usually occurs at the conclusion point of a downtrend or wave of consolidation.

Subsequently, this reflected a trading session where sellers pushed Doge price lower, but buyers regained control by the close.

The candlestick was made right around an area of horizontal support, which has acted as a local bottom several times when consolidation patterns have occurred in the past. Such a signal is used by technical analysts as the symbol of the onset of upward trend.

In this case, the hammer pattern coincided with growing volume, strengthening the interpretation of a possible reversal in market direction.

Dogecoin Price Rallies Past $0.20 Resistance

At the same time, the Dogecoin price increased more than 5% in the last 24 hours, and its growth in the last 7 days reached around 17%.

The meme coin price moved upwards from $0.17 to above $0.20, suggesting short-term bullish activities.

At the time of writing, Doge was priced at approximately $0.203, safely resting above the resistance level that had been demonstrated earlier.

This rally followed an extended flat movement at this point, as well as several unsuccessful breakout efforts below the $0.18-$0.20 bullish zone.

DOGE Price Falling Wedge Breakout Pointing Towards $0.43

More so, another analyst indicated that dogecoin price had recently broken out of a falling wedge pattern that has been developing since early June.

Falling wedges are typically bullish continuation patterns and are particularly common in response to a retracement within an ongoing wide uptrend. The breakout was at the $0.175 level, and it has now confirmed above $0.20.

Furthermore, the projected target was around $0.43 through measured MOVE at the widest part of the wedge.

This zone aligned with past resistance levels recorded in the middle of 2021 and earlier this year.

The analyst put a range of $0.25 and $0.30 as the intermediate interest zones with the historical interplay of the price and volume clusters.

Long-Term Resistance Break Could Signal Larger Uptrend

Moreover, a crucial movement has been breaking above a multi-month downward trendline which has been the resistance since mid-2023.

Analyst CryptoKaleo shared a chart indicating DOGE breaking this resistance and entering a parabolic curve to its all-time highs.

Additionally, the forecasted path leads toward the $0.70–$0.75 region, which marked Dogecoin’s peak during the last bull cycle.

This breakout was after a rounded accumulation foundation building since late 2022, a possible macro reversal.

To further support the bullish breakout, recent analysis revealed that Dogecoin price developed a recurring fractal structure.

It also indicated increasing active addresses and nearing 1.618 fibonacci extension around 0.351.

This suggested an increase in strength and user attention in dogecoin price charts and on-chain data.