Dogecoin posted a powerful increase of 6% during the negotiation session from July 9 to 10, exploding resistance in an explosive rally before retiring in a net reversal at the end of the session.
News context: risk of risk break risk and rate risk rally
- The feeling of the market has improved after the United States extended the deadline for the prices of the three-week “release day”, buying time for commercial negotiations and softening short-term pressure on risk assets.
- Meanwhile, the expectations of a reduction in the rate of the July FED increase, the main banks tariff in 25 to 100 bp in T3 reduction if the inflation data is exceeded next week.
- These macro shifts gave crypto markets a rear wind, helping Doge and other high beta active ingredients rebound strongly on the key support levels.
Summary of price action
- DOGE jumped 6% from $ 0.170 to $ 0.186 between July 9, 03:00 a.m. and July 10 02:00.
- The escape occurred between 19: 00 and 20: 00 on July 9, where the price jumped by $ 0.007 and the volume increased to 1.52 billion – almost double the average 24 hours.
- Strong resistance appeared at $ 0.186 because the price was rejected several times on a heavy volume.
- The support maintained about $ 0.180 to $ 0.181 before the session closure.
- During the last hour (02: 28–03: 27), DOGE dropped from 0.55% from $ 0.181 to $ 0.180, forming a net reversal diagram with a decreased momentum.
Technical analysis
- Range: $ 0.016 or 9.23% between $ 0.170 low and $ 0.186 high.
- Resistance: Pic of $ 0.186, with repeated rejection at high volume for 21: 00 to 23: 00.
- Support: $ 0.180 to $ 0.181 maintained, but fractured during the sale of end hours.
- Clearly: 02: 28–03: 27 session saw support levels at $ 0.1808, $ 0.1806 and $ 0.1803 consecutively under a heavy sales volume – signaling of institutional distribution.
- Volume: 1.52B in cash, 4.9 m during the final inversion, confirming both the entry of the bull and the bear output.
What traders look at
- Can DOGE recover $ 0.186 and turn the resistance to the support? Watch the sustained volume above this level.
- If the decline continues, $ 0.176 and $ 0.172 are the next potential levels of support for previous consolidation areas.
- The RSI and REV readings are lowering short -term exhaustion, but the macro feeling remains clear.
- The range from July 9 to 10 could form the “handle” in a larger weekly and weekly round – validation would require a break greater than $ 0.195 with a high volume.
Take away
Doge seems to be wrapped for a break. Several bullish technical models – including a cup and a hand -handle, a higher base and a triple background – are aligned with an increase in the institutional accumulation of whales.
A decisive movement above the resistance zone from 0.175 to $ 0.20, in particular with a volume peak, could trigger a powerful rally to $ 0.25 and beyond.
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