DOGE Holds Above 200DMA, Breakout Needs Daily Close Through $0.24

DOGE has experienced resistance at $0.24 despite attempts to break above this threshold, settling around $0.23 by session's end. A significant outflow of approximately 40 million DOGE from large holders contributed to the resistance, despite high trading volumes. The cryptocurrency remains above its 200-day moving average, indicating a constructive trend bias, with traders closely monitoring for a potential golden-cross setup as shorter moving averages begin to rise. The session exhibited a brief intraday spike driven by heavy trading volumes, but supply quickly absorbed, resulting in a return to the previous support level of $0.23. Currently, traders are looking for a daily close above $0.24 to confirm a move toward $0.245–$0.25, while a defense of the $0.23 level on dips is crucial for maintaining positive momentum. Overall, the flow of whale transactions and order book supply at resistance levels will play a significant role in determining DOGE's near-term price direction.

Source 🔗