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Dogecoin (DOGE) has recently risen by about 7%, breaking through the Relative Strength Index (RSI) trend line, with significant trading volume. This is crucial because the previous increases lacked strength and quickly retraced.
The current chart shows: after a rebound near $0.151 during the first test, it has entered the 4-hour golden zone. If DOGE breaks through $0.16, the next major resistance level is at $0.182. However, if the breakout fails... the price may retreat to around $0.135, and it could even form a double bottom pattern that traders like to catch. The volume nodes and moving average clustering in the $0.16 to $0.18 range will become the gatekeepers of the next trend.
If the range can be maintained, Dogecoin will have breathing room. If it falls below this range, it may enter a new round of sideways consolidation. Traders firmly believe that it is crucial to hold the range between $0.14 and $0.15.