Dogecoin Breaks $0.195, Wyckoff Setup Points to Further Upside
Dogecoin surged 2.4%, breaking key resistance at $0.1953 on strong institutional flows, suggesting accumulation within a Wyckoff phase. Analysts note that maintaining support above $0.194 could pave the way for additional gains.
Market Overview
DOGE climbed from $0.1911 to $0.1957 over the 24-hour session, trading on 483 million coins, 68% above the daily average. The token formed successive higher lows at $0.1931, $0.1936, and $0.1949, reflecting steady buying interest from larger holders.
The move coincided with broad altcoin strength and Bitcoin’s rebound above $67,000, supporting bullish sentiment despite limited macro catalysts.
Technical Highlights
DOGE’s price structure shows a short-term ascending trend, with consolidation near breakout levels suggesting strength rather than exhaustion. Volume patterns indicate institutional accumulation during the breakout, while historical rounded-bottom formations hint at potential multi-week rallies. Momentum indicators remain positive, reinforcing continuation potential.
Key Levels
Sustaining $0.194 is critical for continued accumulation. A breakout above $0.20 could trigger algorithmic inflows, while a breakdown may see a retracement toward $0.188. Declining exchange-held DOGE reserves support the bullish thesis, signaling confidence from long-term holders.
