Dogecoin Shows Potential Reversal After Breaking 50-Day Trendline with Key Resistance at $0.17
2025-07-03 04:27:10
Main Idea
Dogecoin shows potential for a bullish trend reversal after breaking a key 50-day trendline, with $0.17 resistance being pivotal for further gains, supported by rising RSI and trading volume.
Key Points
1. Dogecoin broke the 50-day trendline, displaying a bullish HH-HL pattern and a double-bottom formation near $0.1445, suggesting a potential price target of $0.3753 if support holds.
2. The 24-hour trading volume increased by 13% to approximately $815 million, supporting the breakout, while the RSI rose from 35 to 40.43, indicating stronger buying pressure.
3. Market analysts highlight $0.17 as a critical resistance level; surpassing it could lead to further gains toward $0.20 and $0.26 in the short term.
4. The bullish momentum is reinforced by rising volume and improving RSI, but maintaining support above $0.1445 is crucial to sustain the upward trend.
Description
Dogecoin has recently broken above its 50-day trendline, signaling a potential bullish reversal with a higher high and higher low pattern emerging. The $0.17 resistance level is critical; surpassing it
Latest News
- Bitcoin Could See Significant Gains Following US Debt Increase, Historical Trends Suggest Possible Upside2025-07-04 10:12:26
- Bitcoin ETFs See Strong Inflows Amid Anticipation of Policy Shifts and Market Repositioning2025-07-04 10:12:01
- Brussels Court Sentences Kidnappers in Cryptocurrency Ransom Case Involving Bitcoin Demand2025-07-04 10:10:50
- BBX Launches Crypto Concept Stock Data Platform Highlighting 944,109 BTC Holdings and $2.18 Trillion Market Value2025-07-04 09:55:41
- Hilbert Group Unveils New Crypto Fund Strategy Featuring Bitcoin as Primary Reserve Asset2025-07-04 09:42:38