Dogecoin turns bullish: will $0.15 breakout fuel run to $0.32?

Key Points

1. Dogecoin's market structure turned bullish after breaking above the high time frame support at $0.15, confirmed by an engulfing candle and a new high.

2. The current resistance zone is between $0.22 and $0.24, where the value area high and the 0.618 Fibonacci retracement level converge.

3. A breakout above $0.24 with strong volume could target the next upside level at $0.32, a prior structural resistance and Fibonacci extension point.

4. A correction from the $0.22–$0.24 resistance is possible but considered healthy for the ongoing bullish trend.

5. The recent price action suggests Dogecoin is in a bullish phase, with the next sessions being pivotal for determining the continuation or pullback of the trend.