DOGE Price Analysis: Forming Bullish Sentiment With Breakout, Pullback, And Support At $0.196
DOGE Shows Bullish Sentiment With Breakout, Pullback, And Support At $0.196
Author: Shaurya Malwa Updated: July 16, 2025 5:56 AM Published: July 16, 2025 5:54 AM
Key points:
- DOGE rose 5.05% to $0.200 amid significant trading volume and high volatility.
- Trading volume rose to 464.28 million, exceeding the daily average of 287.95 million.
- DOGE encountered resistance at $0.200, forming a descending micro channel to $0.196.
Key points:
- DOGE rose 5.05% from $0.190 to $0.200 from 05:00 on July 15 to 04:00 on July 16, fluctuating in the $0.011 range with volatility of 5.48%.
- Trading volume soared to 464.28 million between 11:00 p.m. and midnight, exceeding the daily average of 287.95 million.
- Breakouts occurred at 12:00 PM and again in the evening hours, lifting DOGE above the $0.195 resistance level.
- The last hour saw a rebound at $0.200, with a short-term pullback that formed a descending micro-channel to $0.196.
News background
DOGE's breakout comes amid a general resurgence in meme coins as traders turn to volatility ahead of major macroeconomic events expected later this week.
Institutional signatures were visible in the sharp volume increases above $0.195, while market makers defended support levels around $0.190 early in the trading session.
The technical setup now corresponds to the Fibonacci retracement targets around $0.197, with $0.21 seen as the next extension level if the bulls regain their footing.
