- DOGE eyes $0.17 breakout, a key resistance that could trigger a move toward $0.21 if reclaimed.
- TD Sequential buy signal on 3-day chart suggests bullish reversal may be underway for DOGE.
- Despite a 37.6% dip in volume, DOGE price holds firm, showing buyer support at lower levels.
Dogecoin ($DOGE) is showing renewed buying interest as traders monitor a potential breakout above the $0.17 resistance. The cryptocurrency, currently trading at $0.1642, has rebounded from recent intraday lows. Technical patterns and market structure suggest a possible upward continuation if the price reclaims and holds the $0.17 level.
Reclaiming $0.17 Could Open Path Toward $0.21
Dogecoin’s price movement has hovered near a critical resistance zone at $0.17, which has acted as both support and resistance in recent months. If the asset closes above this level, it may convert it into a support base. This scenario may support a price climb toward $0.21, a level where price consolidation occurred previously.
According to analysis prepared by Ali Charts, reclaiming $0.17 is key to unlocking further upward momentum. “If Dogecoin can reclaim $0.17, it could unlock a rebound toward $0.21,” the analysis stated. This resistance area has historically drawn strong selling activity and would need increased volume for a sustained breakout.
Trading data also shows moderate activity, with 24-hour volume standing at $356.6 million. While the volume has dropped 37.59% in the past day, the price has still managed to rise. This indicates stable support from buyers at lower levels, helping maintain current price levels.
TD Sequential Buy Signal Supports Bullish Momentum
According to an observation by technical analysts, the TD Sequential indicator has issued a buy signal on the 3-day chart for Dogecoin. TD often signals potential trend reversals after extended downtrends or consolidation phases.
The recent TD9 buy setup suggests that the market could be nearing a short-term bottom. Traders commonly use this signal as an early indicator for price reversals. If the buy signal holds and Dogecoin reclaims the $0.17 resistance, a move toward $0.21 may follow based on historical behavior.
The signal’s presence on a higher timeframe like the 3-day chart often adds credibility for swing traders. Market participants are now watching for a sustained close above $0.17 to confirm the setup.
