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Dogecoin iis showing clear signs of a structural market shift after months of grinding within bearish conditions. A strong breakout followed by bullish confirmations suggests that a deeper upside continuation could be underway, if key support levels hold. Momentum indicators are aligning, technical structure is shifting, and buyers are gradually regaining control. Despite recent volatility in the broader crypto market, Dogecoin (DOGE) has quietly been laying the groundwork for a significant trend reversal. After breaking free from a long-standing bearish trend, DOGE surged into high-timeframe resistance at $0.23 before facing rejection. Importantly, the pullback didn’t result in a full breakdown, but rather a rotation into critical support, which appears to be holding firm. This price behavior, supported by volume dynamics and key indicators, signals strength rather than weakness. Key technical points Major Market Structure Break: DOGE has broken out of a prolonged bearish structure, initiating a trend shift with an impulsive rally to $0.23. Critical Support at $0.16: Price is now rotating into a high timeframe support zone backed by the 0.618 Fibonacci and Point of Control. 200-Day Moving Average Retest: A bullish candle close above the 200 MA, followed by a successful retest, confirms strength in the current move. Stochastic RSI in Oversold Region: Currently at 19, this is a historically reactive level. A bullish crossover and move above 20 often precede momentum shifts. Bullish Continuation Signal: Constructive price action within the support cluster would set up an ideal long entry model for a move toward the previous high at $0.23 and beyond. DOGEUSDT (1D) Chart, Source: TradingView The breakout from Dogecoin’s entrenched bearish structure is more than just a short-term anomaly, it carries deeper implications. The impulsive breakout candle surged into $0.23 resistance, a level that has historically been a pivot zone for DOGE’s macro behavior. The recent…

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Filed under: News - @ June 5, 2025 2:20 am