Dogecoin jumps 5% as breakout flips resistance into support

• Dogecoin broke above a key resistance level at $0.0924 on sharply higher volume, turning it into short-term support.
• The token is consolidating around $0.0940–$0.0945 with higher lows, signaling constructive momentum after the breakout.
• Traders now see $0.0940 as the line of defense for bulls, with upside targets near $0.0955–$0.0960 and downside risk back toward $0.0924 if the move fails.

Dogecoin pushed higher on outsized volume after repeatedly testing resistance, flipping a key ceiling into support and setting up a near-term test of the next supply zone.

News Background

• DOGE advanced alongside a stabilizing broader crypto market, with buyers stepping in after several sessions of tight consolidation.
• The move wasn’t driven by token-specific headlines but by technical positioning, as repeated failures at $0.0924 left the level primed for a breakout once liquidity expanded.
• The rally comes after DOGE spent hours coiling between $0.090 and $0.0927, building compression before volume returned.
• Open interest remains elevated but not extreme, suggesting moderate leverage participation rather than a crowded speculative push.

Price Action Summary

• DOGE gained 1.9%, rising from $0.0926 to $0.0944
• Breakout above $0.0924 occurred on 749M volume, 176% above baseline
• Price briefly probed $0.0950 before consolidating near $0.0940–$0.0945
• Higher lows formed during consolidation, confirming short-term strength

Technical Analysis

• The key technical development was the sustained break above $0.0924, a level that capped multiple attempts earlier in the session. Once cleared, momentum accelerated quickly, and the breakout volume suggests genuine participation rather than a low-liquidity spike.
• The subsequent consolidation near $0.0940 appears constructive, with shallow pullbacks and higher lows indicating buyers defending the breakout zone. That keeps short-term structure bullish, but the real test lies at $0.0946–$0.0950, where supply previously absorbed upside attempts.
• A decisive close above $0.0950 would expose $0.0955–$0.0960. Failure to hold $0.0940 would risk a pullback toward $0.0924, which now serves as the structural pivot.

What traders say is next?

• Traders view $0.0940 as the new line of defense. As long as DOGE holds above that level, momentum favors continuation toward $0.0955 and potentially $0.0960.
• If the breakout fades and price slips back below $0.0924, the move would resemble a false break, reopening the prior consolidation range and shifting near-term bias back to neutral.

• Tether’s market value has fallen for a second consecutive month, a rare contraction that echoes the post-Terra 2022 downturn and signals renewed stress in crypto markets.
• Analysts say shrinking stablecoin supply, combined with weak demand for U.S.-listed spot bitcoin ETFs, raises doubts about the durability of any recovery in bitcoin and broader digital assets.
• While USDC has rebounded from its January low to about $75 billion in market value, its growth has flattened this year, underscoring a broader stall across major stablecoins.

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