As Bitcoin oscillates over the past hours, most altcoins have recovered, alongside Dog, which now signals a bullish rally with double-digit gains in the last few hours.
Meme coins have seen slight reductions over the past days as Bitcoin struggles to sustain its rally. For Dog, the market has been favourable this week as the price increases consistently, showing signs of a bullish move daily.
This came after bouncing back from a four-week retracement during last weekend’s trading. A continuous hold above this level should fuel a massive rally in the short term.
While the bulls are getting more formidable in the quest to gain full control of the market, a successful push above the previous monthly high should activate a massive run. This will confirm the extended W – W-pattern forming on the current daily chart. Such a breakup could bring trading back to the peak level.
Considering the negative sentiment surrounding the meme coin market lately, which suggests a potential sell, Dog may still lose momentum. If that occurs, it must retake last week’s low before considering a bearish move.
From a technical standpoint, Dog will likely close the second quarter of the year on a bullish note. According to Coingecko statistics, it is currently the sixth biggest meme coin on the Solana network with a fully diluted valuation of $458 million.
DOG’s Key Level To Watch
Targeting the $0.0056 resistance level for a breakout, the next resistance level to watch for a rally would be $0.008, followed by the key $0.01 level in the near term.
Minor drops from the current trading level could pull the price back to $0.003. While the $0.0026 level is considered a key support for a breakdown, the lower levels to watch for tests are $0.0021 and $0.0016.
Key Resistance Levels: $0.0056, $0.008, $0.01
Key Support Levels: $0.003, $0.0021, $0.0016
- Spot Price: $0.0045
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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