DOGE Hits Resistance on Bull Flag Breakout, But 'Cup and Handle' Points to Higher Moves
2025-07-10 04:36:23
Main Idea
DOGE experienced a significant price surge but faced resistance at $0.186, with technical indicators suggesting short-term exhaustion but overall bullish sentiment.
Key Points
1. DOGE surged 6% from $0.170 to $0.186 between July 9 and July 10, with a breakout volume of 1.52B, nearly double the 24H average.
2. Strong resistance emerged at $0.186, with repeated rejections on heavy volume, while support held around $0.180–$0.181.
3. Traders are watching whether DOGE can reclaim $0.186 and flip resistance into support, with sustained volume above this level being a key indicator.
4. Bullish technical patterns, including a multi-year cup-and-handle formation, suggest potential for a breakout if resistance levels are surpassed.
5. A decisive move above the $0.175–$0.20 resistance zone, especially with a spike in volume, could trigger a rally toward $0.25 and beyond.
Description
Dogecoin posted a powerful 6% surge during the July 9–10 trading session, blasting through resistance in an explosive rally before retreating into a sharp late-session reversal. News Background: Trade Pause and Rate Bets Fuel Risk Rally Market sentiment improved after the U.S. extended its “Liberation Day” tariff deadline by three weeks, buying time for trade negotiations and easing short-term pressure on risk assets. Meanwhile, expectations of a July Fed rate cut are climbing, with major banks ...
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