The Dogecoin price has been consolidating above the $0.18 support level, indicating a significant increase in accumulation. This stabilization suggests that a potential breakout towards the next key resistance at $0.26 could be on the horizon, confirming the current accumulation phase.
Key Factors Influencing Dogecoin’s Price Movement
Dogecoin’s price has stabilized in the $0.18 support area after the recent market capitulation, suggesting the formation of an accumulation phase. This high-time frame support has proven robust, with the price remaining above it for over a week. The market is currently facing a tight range between key structural levels, and a breakout supported by strong upside volume could set the stage for a move towards higher resistance.
Technical Analysis of Dogecoin’s Price
A closer look at the technical aspects of Dogecoin’s price reveals several key points. The $0.18 support remains stable, with accumulation forming around this level. Retaking the control point is crucial for the dynamic, and a confirmed breakout could target resistance at $0.26 next. The value range with low recovery value signals renewed demand in the market, and the next big resistance at $0.26 is considered the next upside target on the upper time frame.
DOGEUSDT (1D) chart, source: TradingView
Historically, the consolidation pattern forming between the Point of Control (POC) and the $0.18 support marks the development of an accumulation zone. This structure often precedes periods of expansion when supported by volume and momentum. The next step for Dogecoin’s uptrend would be a successful reclaim of POC, which is a key resistance zone in the current range. A confirmed breakout above this level, supported by increasing volume, would increase the likelihood of a rally towards the upper resistance level at $0.26.
Expected Price Development and Key Takeaways
If Dogecoin continues to stay in the $0.18 area, accumulation is likely to continue before expansion. A decisive breakout above the control point with increasing upside volume could propel the price movement towards $0.26, the next major resistance zone. For a sustained rise, bullish inflows must increase in both spot and futures markets. A breakout on low volume would likely fail to maintain momentum and risk a return to the range. On the other hand, strong volume accompanied by bullish engulfing candles on the daily time frame would confirm that demand is driving the next leg higher.
For more information and updates on Dogecoin’s price movement, visit https://crypto.news/dogecoin-price-gears-up-for-breakout-rally-as-bulls-accumulate-heavily-at-0-18/
