๐ถ Dogecoin($DOGE ) Breakout Alert: Bulls Take Charge as Trendline Snaps! ๐
Dogecoin has officially entered bullish territory after bouncing strongly from support earlier this week. Starting from a low of $0.215, it has been steadily climbing and is now eyeing the $0.25 mark โ boosted by Bitcoin's new all-time highs and renewed crypto market confidence.
๐ Market Structure: Bullish Shift
After forming a bottom at $0.13 on April 7, DOGE has been moving within an ascending channel. The recent breakout above key levels signals a clear transition from bearish pressure to bullish control.
Earlier this week, the price successfully retested the $0.1950โ$0.2150 demand zone, establishing it as solid structural support. As long as the price stays above this level, the bullish trend remains intact.
๐ฏ Key Targets Ahead
According to analyst Melika, traders should watch these key resistance levels as momentum builds:
1. $0.2530 โ May 11 swing high
2. $0.2750 โ Near the top of the ascending channel
3. $0.3035 โ Major horizontal resistance (support flipped to resistance since Feb)
A break above $0.3035 would confirm a full recovery from the recent downtrend and open the door for higher prices.
โ ๏ธ Risk Level to Watch
A drop below $0.1950 would invalidate this bullish scenario, breaking both the demand zone and the channel structure.
๐ Current Status
Price: $0.2447
24H Change: +2%
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Conclusion:
Dogecoin is showing strong upside momentum, but staying above the $0.1950 zone is crucial. Watch closely for breakouts above $0.2530 and $0.2750.
๐ฅ Bulls are in control โ the breakout is real! Stay sharp and ride the trend.
