Dogecoin is flashing multiple bullish signals across technical charts and market data, positioning the popular memecoin for a potential breakout. As investor conviction grows and derivatives markets heat up, all eyes are on a critical resistance level that could unlock a significant upward move.
After finding solid ground at the $0,14 support level, Dogecoin (DOGE) has charted a course upward, driven by renewed buyer interest. The price action has formed a classic “cup and handle” pattern—a technical formation often viewed by traders as a signal for bullish continuation. Currently trading around $0,182, DOGE is testing the waters for its next major leg up.
The path forward has a clear hurdle: the $0,198 resistance mark. A decisive break above this level could give bullish traders the momentum needed to target the $0,25 price zone in the coming weeks. Conversely, maintaining support above $0,16 is crucial to sustaining the current positive sentiment.
Investor Confidence on the Rise
On-chain data reveals a compelling story of growing investor confidence. Two key trends stand out:
1. Aggressive Spot Buying: An analysis of the Cumulative Volume Delta (CVD) over the last 90 days shows that aggressive buyers have consistently outpaced sellers. This indicates that even during price dips, demand for DOGE on spot markets has remained robust, laying a strong foundation for a potential rally.
2. Coins Leaving Exchanges: Investors are moving their DOGE off exchanges and into self-custody. On 10 de julio alone, a net total of over $8,5 million in DOGE was withdrawn from trading platforms. This trend typically signals a long-term holding strategy, as it reduces the immediately available supply for selling and eases downward pressure on the price.
Derivatives Market Bets on an Upswing
The futures market is echoing the bullish sentiment seen in spot trading. Open Interest in DOGE futures recently surged by 15,09% to $2,44 billion, reflecting a significant influx of new capital and heightened trader engagement.
Simultaneously, the Funding Rate remains positive at +0,0093%. In simple terms, this means traders betting on a price increase (longs) are willing to pay a premium to those betting on a price decrease (shorts). This combination of rising capital and bullish conviction in the derivatives market adds another layer of support to the optimistic outlook.
The Road Ahead for DOGE
The confluence of a classic bullish chart pattern, strong spot market demand, significant exchange outflows, and positive sentiment in the derivatives market paints a promising picture for Dogecoin.
However, momentum is key. While the data leans bullish, the rally’s continuation hinges on breaking through the $0,198 resistance. A failure to clear this level could see the price consolidate or pull back to retest lower support. For now, traders are watching closely to see if the market’s follow-through volume can carry DOGE toward its next major target.
| Key Level | Price | Significance |
| Current Price | ~$0,182 | Mid-channel consolidation |
| Key Resistance | $0,198 | Breakout point for a potential rally |
| Bullish Target | $0,250 | Potential price peak if momentum continues |
| Key Support | $0,160 | Critical level to hold for bullish structure |
