Dogecoin Price Surge: ETF Catalyst Sparks Breakout

Dogecoin has confirmed support at the $0.20 level as the ETF catalyst sparks a breakout. Backed by strong technical confluence and building momentum, a push toward the key $0.32 resistance level could follow.

Technical Confluence and Momentum

Dogecoin price is showing renewed strength by firmly defending the $0.20 level. This zone aligns with both the point of control and the 0.618 Fibonacci retracement, providing a strong technical base that is fueling bullish sentiment.

Key Technical Points

Dogecoin has confirmed major support at $0.20, aligning with both the point of control and the 0.618 Fibonacci retracement. Price has accelerated toward the value area high, a key resistance that must be reclaimed on a closing basis. A breakout above the value area high would open the door for a move toward $0.32, a high-timeframe resistance not yet tested.

Support Zone and Bullish Reversals

The $0.20 level has proven to be a critical support zone for Dogecoin, providing multiple technical confirmations that reinforce its significance. The point of control in this region reflects a large accumulation of traded volume, suggesting that market participants are actively defending the level. Coupled with the 0.618 Fibonacci retracement, often referred to as the “golden pocket,” this creates a strong confluence that historically serves as a launching point for bullish reversals.

Rotation Toward Resistance

With this support holding firm, Dogecoin is now well positioned for a potential rotation toward the $0.32 resistance zone. From this base of support, Dogecoin has quickly moved back to test the value area high. This level represents the next key hurdle for bulls, as a daily or weekly close above it would indicate strength and allow continuation.

Next Major Target

The next major target lies at $0.32, a high-time-frame resistance that has not yet been tested in the current cycle. A breakout into this zone would represent a significant step forward for Dogecoin, confirming the shift in structure with a series of higher highs and higher lows. Importantly, volume has been increasing alongside price, which adds credibility to the move and suggests that demand is present to sustain upward momentum.

Coming Price Action

Dogecoin is well positioned for continuation after reclaiming strength at $0.20. Traders should watch the value area high closely, as a confirmed breakout here would likely accelerate momentum into the $0.32 resistance. If volume continues to support the move, Dogecoin could be on the verge of establishing a new leg higher in its bullish structure, as reported on bitpulse.