#Dogecoin
Dogecoin Surges 10% After 1‑Hour Chart Breakout: How High Can It Go?
Dogecoin Surges 10% After 1‑Hour Chart Breakout: How High Can It Go?
Dogecoin (DOGE) recently experienced a sharp 10% rally following a clean breakout from a descending trendline on the 1‑hour chart—a development that has captured attention among crypto traders. This move marked a decisive shift in short-term momentum, with DOGE breaking above the downtrend that began on May 23.
As of July 1, DOGE rebounded from a local low of around $0.1427 to reach approximately $0.1613—a 13% rise in a matter of days. Technical indicators show encouraging signs: the RSI climbed above the 60 level on the 1‑hour timeframe, signaling renewed bullish momentum without yet entering overbought territory. Meanwhile, MACD crossed bullishly on shorter timeframes—another hallmark of positive upside potential.
Volume during the breakout increased moderately, lending credibility to the move. However, some indicators hint at a possible slowdown, as RSI and MACD readings on the 4‑hour chart are showing signs of exhaustion . That means while the breakout could lead to further gains, caution is warranted.
Key price levels to watch:
Support: $0.16 marks the trendline retest zone—holding here supports bullish continuation.
Primary resistance: Near $0.17–$0.17 5, a level that must be cleared to confirm sustained momentum.
Upside targets: If momentum holds, DOGE could push toward $0.18–$0.19 in the near term.
What’s next? Traders should monitor whether DOGE can hold above the breakout point near $0.16. A sustained hold and break above $0.17 could fuel a rally to $0.18–$0.19. On the flip side, a drop below $0.16 may see DOGE retest the $0.14–$0.145 support range.
In summary, while the 1-hour breakout indicates bullish potential, mixed signals on longer timeframes advise a measured approach. Keep an eye on volume and momentum indicators as they will ultimately determine if DOGE’s rally can sustain its climb or run out of steam.