Dogecoin Surges 7% as Bulls Break Key Resistance

Dogecoin experienced a notable surge of 6.56% in the last 24 hours, rebounding from a two-month low of $0.1508 to reach a session high of $0.1632. This upward movement was fueled by traders who aggressively entered the market following a confirmed technical breakout. The surge occurred amidst escalating geopolitical tensions between the U.S. and Iran, which introduced volatility across the cryptocurrency market but did not impede Dogecoin's upward trajectory.

The meme coin successfully breached a long-standing descending trendline, signaling a potential shift in short-term market structure. Hourly Relative Strength Index (RSI) readings recovered from oversold territory, and netflows turned neutral, suggesting a possible exhaustion of selling pressure.

News Background

Global markets have been unsettled by renewed military activity in the Middle East, with U.S. airstrikes impacting risk sentiment. Despite a broader crypto selloff, Dogecoin demonstrated relative strength, recovering more quickly than Bitcoin or Ethereum and surpassing key resistance levels.

Technical analysts have observed that the rally was driven by a significant increase in trading activity, particularly during the 22:00 UTC hour, when volume exceeded 800 million units and the price jumped 3.77% in less than an hour. This breakout has renewed discussions about a possible retest of the $0.17–$0.18 range, contingent on sustained elevated volume and stabilization of global risk sentiment.

Dogecoin’s network fundamentals remain sound, with transaction volume and active wallet counts showing an upward trend over the past week. While macro conditions remain uncertain, the meme coin's resilience is attracting renewed interest from traders speculating on short-term altcoin rotations.

Price Action

During the session, Dogecoin fluctuated between $0.1508 and $0.1632, eventually settling around $0.1615. The $0.150 zone served as a support level after the asset reached a local bottom following weeks of downward momentum. A clear break above the $0.162 resistance level has established a short-term higher high, with $0.165 now identified as the next level to monitor.

The final hour of trading saw a minor consolidation, with Dogecoin slightly retreating from intraday highs and potentially forming a bull flag pattern above $0.161.

Technical Analysis Recap

• Dogecoin recorded a 6.56% increase, rising from $0.153 to $0.1632 over 24 hours.
• The price broke above a descending trendline, confirming a bullish breakout.
• Key support formed at $0.150 after reaching a two-month low, with volume exceeding 800 million during the rebound.
• $0.165 now acts as short-term resistance; $0.162 is holding as support.
• The RSI has moved out of oversold conditions; the MACD signals a potential continuation of the upward trend.
• The final-hour pullback remains shallow, indicating healthy consolidation.