Is Dogecoin repeating a breakout pattern? –
Dogecoin maintained its crucial $0.20 support, showing resilience despite broader market weakness.
Key technical indicators are worth watching for confirmation of a sustained move higher.
Dogecoin [DOGE] is stubbornly holding above the crucial $0.20 support level, even as the broader market sheds risk.
This resilience hints that buyers are stepping in strong, potentially turning this zone into a solid floor. With risk-on sentiment likely to re-emerge, is DOGE primed for a potential retest of $0.30 resistance?
Why $0.20 is a make-or-break level for Dogecoin
DOGE’s daily chart is showing some classic setups.
Historically, when Dogecoin consolidates in a tight two-week range, it’s usually gearing up for a big move. Before the breakout on the 8th of May, DOGE hung between $0.15 and $0.17, playing it cool.
Then, as Bitcoin [BTC] hit fresh all-time highs, capital rushed back, sending DOGE on a nearly 50% sprint to $0.25 in just three days.
In fact, the RSI hit a major peak here – the first time since November. So some profit-taking was inevitable.
