Dogecoin (DOGE) Price Surges: Can the Memecoin Maintain Bullish Momentum?

Dogecoin (DOGE) price has been bullish with the token breaking past key resistance levels. Per Coinpedia Markets’ tweet, $DOGE surged above its resistance at $0.1215 and is now targeting the next level at $0.2290.

Dogecoin (CRYPTO: DOGE) price is showing bullish signs with the token breaking past key resistance levels.

As noted by Coinpedia Markets in a recent tweet, $DOGE price surged past its resistance at $0.1215 and is now targeting the next level at $0.2290.

The price action of Dogecoin over the past week has shown a sustained upward growth.

As highlighted by Coinpedia Markets, the breakout above the $0.1215 resistance indicates a shift in the market trend toward positivity.

The memecoin’s price surge is being accompanied by higher trading volumes, indicating active participation from traders in the price spike.

Moreover, the $0.1215 level, which previously acted as a resistance, is now offering crucial support.

$DOGE broke out from our targeted resistance at $0.1215. Now, heading to $0.2290.?#Dogecoin is up 7.15% in past 24hrs to $0.1331.

Are you bullish or bearish on #DOGE? ?https://t.co/Fuvde95AvW pic.twitter.com/7C4u6SqHrd

Holding above this level could allow DOGE to continue its upward trend. The tweet suggests that this bullish breakout may lead to a target of $0.2290, if the current momentum persists.

Resistance And Support Analysis

With DOGE rallying, the next hurdle lies around the $0.1370 mark, which presents a minor resistance.

If the memecoin manages to cross this level, it could pave the way for a move toward the $0.2290 resistance target, as highlighted by Coinpedia Markets.

Conversely, any decline below $0.1215 may suggest a temporary pullback. However, as long as DOGE maintains support above this level, the overall sentiment remains optimistic.

The tweet from Coinpedia Markets has prompted questions on whether traders are bullish or bearish on DOGE.

The gradual increase in volume, especially around the $0.1215 breakout, indicates that the price surge is being supported by strong market interest.

Moreover, the noticeable spikes in trading activity on days with price increases highlight the strong presence of aggressive buyers. This pattern aligns with the bullish momentum that DOGE has been experiencing over the past week.

Also Read: Stellar (XLM) Price Set to Explode? Key Breakout Signals Huge Gains!

Technical Indicators And Current Market Status

A technical chart analysis reveals a clear uptrend for DOGE, characterized by higher highs and higher lows since late September. The consecutive green candlesticks, with no evident reversal patterns, further confirm the ongoing bullish trend. If DOGE holds its support levels, the potential to test higher resistance levels remains plausible.

According to the latest data on CoinGecko, Dogecoin is priced at $0.1339, showing an increase of 8.71% over the last 24 hours. Additionally, DOGE has recorded a 24.29% increase over the past week, reflecting a solid upward momentum.

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The breakout from the $0.1215 resistance level and its subsequent performance has set a bullish tone for the memecoin. The ability to maintain this momentum could see it test the $0.2290 target, as suggested by Coinpedia Markets.

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