Dogecoin (DOGE) Poised for a Potential Breakout: Analyst Highlights Key Price Level to Monitor
Dogecoin’s price has been trading in a tight range between $0.072 and $0.076 recently, squeezed between two key accumulation walls identified by crypto trader Ali on Twitter.
The support wall spanning $0.072 to $0.073 contains around 200,000 addresses holding 28.6 billion DOGE, representing solid buying interest below the current price.
Meanwhile, the resistance wall ranging from $0.074 to $0.076 consists of 124,000 addresses with 26.95 billion DOGE, indicating weaker overhead supply above market levels.
With DOGE hovering just under resistance around $0.075, the greater concentration of support addresses and coins suggests upside potential for a breakout.
If bulls can propel Dogecoin over the $0.076 level on higher-than-average trading volumes, traders will look for DOGE to challenge the next ceiling at $0.084.
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However, failure to push through overhead resistance could see DOGE slide back toward support around $0.072. But overall, Dogecoin’s technical setup remains constructive for a bullish move higher after basing between key accumulation levels.
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