Dogecoin (DOGE) has shifted its market structure bullishly after breaking the support level at $0.15. This event, backed by high trading volume, signals potential further growth.
Bullish Market Structure
The recent breakout for Dogecoin has been technically significant, confirming a bullish structure following weeks of consolidation. The break above the $0.15 support level, which had previously acted as a base, allowed for a new higher high and confirmed buyer interest.
Key Technical Levels
The current resistance zone is between $0.22 and $0.24, where the value area high and the 0.618 Fibonacci retracement level converge. A short-term rejection here could be healthy, particularly if followed by the formation of a higher low.
Expectations for Upcoming Price Action
Technically, a correction at the current resistance is likely but would be healthy. Should DOGE break above this resistance with strong volume, an upward move towards $0.32 is the high-probability scenario.
Currently, Dogecoin is in a bullish phase. While a correction may occur, a breakout above the resistance at $0.22–$0.24 could pave the way for further price advancement.
