Analyst Rekt Capital reports a significant breakthrough for Dogecoin through its resistance level, indicating potential for further growth.
Weekly Close Above Pre-Halving Highs
On the weekly chart, Dogecoin has clearly broken through the horizontal resistance level that previously capped its price action pre-halving. This green-marked zone acted as a ceiling for several months and has now been breached and reclaimed, flipping the narrative from resistance to support. Weekly closes carry more weight than intraday moves, reflecting a stronger consensus among traders and investors.
Signs of Strength on the Daily Chart
Rekt Capital points out that DOGE has shown early signs of reclaiming this level on the daily timeframe. A green circle on the chart indicates the initial breakout and successful retest, which typically confirm trend continuation. The bullish breakout has sparked a 62.70% rally, with Dogecoin trading near $0.22.
What’s Next for DOGE?
If Dogecoin can hold above the green zone, the next price target becomes increasingly viable. Holding this newly established support is critical for momentum to continue building, with the bulls appearing to have the upper hand for now.
Dogecoin's recent breakout above its pre-halving highs could signify the start of a larger upward move. As long as the price remains above the reclaimed support zone, the next destination could be $0.27.
