Despite a backdrop of geopolitical uncertainty and market volatility, Dogecoin (DOGE) is demonstrating notable strength, underpinned by robust support levels and increasing interest from major investors.
As broader cryptocurrency markets wrestle with the fallout from trade tensions and global economic pressures, DOGE has rebounded sharply from an intraday low of $0.220 to carve out a solid foothold around $0.222. Trading volumes nearly doubled the daily average, highlighting growing demand.
This price action has formed a higher low pattern, a technical signal suggesting bullish momentum is building despite challenging external conditions.
Technical Breakdown:
- DOGE bounced back from $0.220 at 1:00 AM, rising steadily to $0.232 by 1:00 PM, a gain of 5.45% over 12 hours.
- The initial volume spike at 1:00 AM reached 393 million DOGE, almost twice the average daily volume, establishing strong support at $0.222.
- Throughout the morning, buyers maintained pressure, with prices staying above the $0.227 resistance level from 7:00 AM onward.
- The 1:00 PM candle showed exceptional volume of 558 million DOGE, hinting at institutional buying.
- DOGE’s rally extended into early afternoon, surging from $0.228 to $0.232175 by 1:19 PM.
- Volume spikes between 1:08–1:10 PM (75 million combined) and 1:13 PM (21 million) confirmed heightened whale activity.
- A slight retracement began at 1:33 PM, pulling DOGE back to $0.228 by 1:51 PM before recovering to close near $0.229.
- This steady consolidation above $0.228 supports the view that the bullish trend remains intact, with $0.232 now serving as the next critical resistance.
