- Dogecoin flips bullish: A strong engulfing candle and volume spike confirm a breakout above $0.15 support.
- Major resistance ahead: DOGE approaches $0.22–$0.24, a confluence of Fibonacci and volume profile resistance.
- Correction or continuation? A healthy pullback is expected unless volume breaks resistance — then $0.32 becomes the next likely target.
- Structure matters: Holding above $0.15 and forming higher lows are key to sustaining this uptrend.
Dogecoin (DOGE) has entered a promising bullish phase after weeks of consolidation. The meme coin has decisively broken above its key high-timeframe support at $0.15, fueled by a bullish engulfing candle and a notable surge in trading volume. As price now climbs toward the $0.22–$0.24 resistance zone, the crypto market is watching closely — will this rally sustain, or will DOGE cool off before another leg up?
Also Read: Dogecoin Price Prediction May 29: Is the Meme Coin Settling for Sideways Action?
Bullish Structure Confirmed
The recent breakout is technically meaningful. Dogecoin reclaimed the point of control (POC), a key price zone based on historical volume, and posted a higher high, indicating a bullish market structure shift. The engulfing candle shows buyer dominance, and volume confirms that this isn’t just a short squeeze.
This move marks the first solid sign of trend reversal since DOGE’s recent slump, re-establishing $0.15 as the new support floor.
Key Technical Zones To Watch
- Current Resistance Zone: $0.22–$0.24
This area aligns with the 0.618 Fibonacci retracement level and the value area high — a confluence zone known to create volatility. A rejection here would not be bearish but would signal a possible retest of lower support to form a higher low. - Support Zone: $0.15–$0.18
If price corrects, traders should watch this area for consolidation or re-accumulation, especially if accompanied by steady volume. - Next Target: $0.32
If DOGE clears $0.24 with volume expansion, expect a potential surge to $0.32, a region that marks a Fibonacci extension and historical structural resistance.
Dogecoin: What’s Next?
Whether Dogecoin consolidates or continues upward depends heavily on its reaction to the $0.22–$0.24 resistance. A healthy rejection and higher low would reinforce the bullish trend. However, a breakout above this zone, especially on strong volume, would likely trigger a price acceleration toward $0.32.
For traders, the best approach is to monitor volume closely and watch for confirmation signals — either a breakout or a bullish retest setup.
