Dogecoin, Is It Over If You Don't Jump In Now?...Breaks $0.1, Showing Crazy Bullish Signal

▲ Dogecoin (DOGE)

Dogecoin (DOGE) has broken through the psychological resistance level of $0.10, forming a short-term upward trend, but analysis suggests that further gains depend on its ability to firmly establish itself above this level.

Crypto media outlet NewsBTC reported on April 30 (local time) that DOGE showed an upward trend by breaking above $0.10. This movement has attracted market attention as a major resistance level has been broken amidst a recent gradual upward trend.

Technically, DOGE has formed a short-term bullish structure, trading above $0.10 after overcoming resistance near $0.098. In particular, the price has been maintained above the 100-hour moving average, indicating that buying pressure is being sustained to a certain extent.

However, for the rally to continue, converting the $0.10 level into a support line is identified as a key factor. If it successfully settles above this level, further upward potential opens up, with the next target levels suggested at $0.108 and $0.112.

Conversely, if it falls below $0.10 again, the upward trend could weaken. In this scenario, short-term support levels are mentioned around $0.097 and $0.092, with analysis suggesting that further declines could open up the range below $0.090.

From a technical indicator perspective, there are also assessments that the upward momentum is not yet fully confirmed. Although buying pressure has entered in some areas, the possibility of a renewed correction cannot be ruled out if trading volume and momentum are not consistently supported after breaking key resistance.

This rally is significant in that Dogecoin has tested the $0.10 barrier that it had been stuck below for a long time, but whether this price level can establish itself as new support is expected to act as a key turning point for future trends.

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