🐕🔥 $DOGE BREAKOUT ALERT! Trendline Shattered, Bulls Taking Control! 🚀
Good news for the #DOGE Army! Dogecoin has bounced off support and is on a steady ascent, shaking off recent dips and approaching the $0.25 mark after recovering from a low of $0.215. This bullish momentum aligns with Bitcoin's recent record highs, injecting confidence back into the broader crypto market! 💪
This breakout signifies a significant shift from bearish to bullish pressure, with the price structure looking increasingly positive. Dogecoin is now on track to continue its rally from its April 7th low of $0.13, with the ascending channel top as the next target!
Key factors supporting this bullish outlook:
Strong Support Retest: DOGE successfully retested the crucial $0.1950–$0.2150 demand block earlier this week, confirming it as a robust structural support level. As long as the price stays above this, the path to the top of the rising channel remains open.
Bullish Price Structure: The current price action indicates a complete shift in momentum, with bulls taking the reins.
Analyst Melika outlines key targets for Dogecoin traders:
First Objective: $0.2530 (May 11th swing high)
Second Objective: $0.2750 (Near the ascending channel's top boundary)
Major Resistance: $0.3035 (A critical level that acted as support in January before flipping to resistance). A decisive break above this would signal a full recovery and open the door to higher prices!
Invalidation: A rejection or breakdown below $0.1950 would invalidate this bullish thesis, as it would breach both the demand zone and the channel structure.
At the time of writing, Dogecoin is trading around $0.2447, up 2% in 24 hours, showing strong returning buying pressure!
Are you ready for the next leg up for DOGE? Share your thoughts below! 👇
#Dogecoin #DOGE #TrumpTariffs #MarketPullback
