Dogecoin (DOGE) showed renewed strength in the last 24 hours, rising 1.67% to $0.167 and breaking a key resistance level at $0.165. This move came despite ongoing macroeconomic uncertainty, marking an important signal of growing bullish sentiment in the market.
Bullish Breakout Despite Global Tensions
Amid global trade disputes and diplomatic tensions, cryptocurrencies have remained volatile. However, Dogecoin’s resilience stood out. The price rallied during the 16:00–17:00 UTC window on June 24, breaking decisively above $0.166. This breakout was supported by increased trading volume and sustained buyer interest.
Importantly, the asset had already established a strong support zone near $0.162–$0.163, where significant volume accumulation was recorded earlier in the day. Higher lows on the price chart further validate the ongoing bullish structure.
Technical Indicators Support Further Gains
Technical analysts are closely watching the $0.168 resistance level, which, if breached, could pave the way for more upside potential. The current setup suggests that as long as DOGE remains above $0.165, further gains are likely.
Key indicators include:
- Higher lows, confirming upward trend structure
- Rising volume, signaling growing participation
- Sustained support, validating accumulation phase
If Dogecoin continues to hold its position above $0.165 and breaks through $0.168, traders could see a run toward $0.175 and beyond.
Market Sentiment and Trader Behavior
While many risk assets have struggled amid heightened market anxiety, Dogecoin has attracted increased trader attention. The altcoin’s ability to recover from its weekly lows with strength highlights a shift in sentiment, possibly signaling a longer-term recovery phase.
This pattern of steady accumulation and breakout often reflects institutional or large-volume buying, further boosting confidence in the asset’s short-term outlook.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.