- $DOGE breaks 50-day trendline and confirms bullish continuation
- PO3 pattern signals breakout with rising volume and momentum
- Bulls reclaim $0.167 and now eye $0.26 resistance from May high
Dogecoin has confirmed the reversal of the trend as it has surpassed the major resistance levels and gained the attention of investors. The price has increased more than 9% in two days, with the new market momentum and increased trading volume. As technical indicators turn bullish, the traders are eyeing $0.19 and 0.26.
Source: CoinGecko
The price has now moved above its May low near $0.1674 and formed new highs around $0.1750. However, Dogecoin still remains below the $0.19–$0.20 short-term resistance zone. Market participants are monitoring this level for a possible breakout to its $0.26 peak in May.
Technical Indicators Signal a Breakout to $0.26
Analyst Ali outlined a bullish channel where Dogecoin is rising toward its mid-range resistance of $0.19. The token has experienced several rejections at this point, which makes a breakout important for further gains. A breakout above $0.19 may validate the upside continuation to an upper limit at $0.26.
Source: X
The bullish outlook is reinforced as the Power of Three pattern appears on the 1-hour chart. The accumulation and manipulation phases have already transitioned into the distribution phase. This structure often leads to a breakout, and the green impulse candle shows a rapid buildup of momentum.
Moreover, according to Trader Tardigrade, Dogecoin broke above its 50-day trendline and retested the breakout level. This trendline had limited the price movement for more than seven weeks. The validated breakout and retest indicate that buyers have control of the short-term trend.
Source: X
BitGuru notes that Dogecoin had completed a downtrend cycle from $0.204 to $0.143. After the formation of consistent lower highs and lower lows, the price entered a long period of consolidation. The breakout from this range shows that the selling pressure has diminished and demand is coming back.
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RSI and MACD Show Increased Demand For DOGE
Momentum indicators such as RSI and MACD have flipped positive, which implies additional upward movement. The increase in volume on the bullish candles signals demand rather than speculation. If the volume remains high while the price holds above $0.167, bulls could make a rally soon.
The price has just rebounded off the $0.143 support area, which indicates a strong base formation within its long-term descending channel. It breached the bottom line, then reclaimed the mid-range level around $0.167. This movement marks a change of structure and a rise in the possible upward extension.
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