Dogecoin faced a corrective move after hitting a recent high at $0.28, but support at $0.22 remains strong. This situation suggests a potential continuation higher.
Key Technical Points
Major support at $0.22 formed by confluence of 0.618 Fibonacci and VWAP.
Resistance levels are targeted at $0.32 and $0.41.
Volume reflects sustained interest and ongoing demand.
Structure and Volume Support Bullish Trend
Dogecoin’s corrective move from the $0.28 high has not undermined the overall bullish structure. Price continues to stabilize at key support of $0.22, indicating potential for another upward attempt. DOGE is still forming higher highs and higher lows, reaffirming its bullish trend on the daily timeframe.
Price Action Outlook
With the current situation, maintaining price above $0.22 is crucial for a bullish outlook. If Dogecoin hits $0.28 again and continue toward $0.32 and $0.41, it will strengthen bullish positions. Watching for volume and structure will be important indicators in the upcoming days.
Overall, Dogecoin shows positive signals, and its ability to hold support at $0.22 opens up possibilities for further growth toward the target levels. Volume and structure analysis will be important tools for predicting future moves.
