Dogecoin Stalls at $0.186; Cup-and-Handle Signals Breakout
Crypto analyst Kev_Capital_TA flagged Dogecoin’s breakout from a descending wedge on the monthly chart in November. At the time, RSI reclaimed bullish ground above 50, and a 0.382 Fibonacci retracement support at $0.1378 underpinned a solid base. He forecast the 1.618 extension near $3.94 as a long-term target, noting interim resistance zones at $1.00–1.20 and $2.30–2.50.
On July 9–10, Dogecoin rallied 6%, briefly clearing $0.186 on high volume of 1.52 billion DOGE as US tariff delays and Fed rate-cut hopes boosted sentiment. However, DOGE repeatedly met resistance at $0.186 and found support around $0.180–0.181. Short-term RSI and OBV readings signal exhaustion after heavy selling in the final hour. A weekly cup-and-handle pattern is now forming. Traders will watch for a decisive weekly close above $0.195 to confirm the breakout and target $0.25, amid ongoing macro factors and long-term bullish setups.
Bullish
Dogecoin’s technical setups across multiple timeframes support a bullish outlook. On the monthly chart, the wedge breakout, RSI above 50, and Fibonacci support at $0.1378 point to structural strength and a long-term target at the 1.618 extension near $3.94. In the short term, the 6% rally on high volume and the emerging weekly cup-and-handle pattern reinforce the potential for a further upside move toward $0.25. Traders are focused on a clean weekly close above $0.195 to confirm the breakout. While repeated rejections at $0.186 underscore the need for consolidation, the prevailing on-chain indicators, macro sentiment, and historical symmetry suggest that Dogecoin is poised for bullish continuation, with initial support at $0.180–0.181 and momentum likely to resume once key resistance is reclaimed.