Global economic uncertainties and escalating trade tensions are creating ripple effects throughout cryptocurrency markets, with Dogecoin demonstrating remarkable resilience amid the turbulence.
After experiencing a sharp 21.2% correction that saw prices tumble from $0.165 to $0.130, DOGE has staged a significant recovery, while the broader crypto market staged a comeback as the CoinDesk 20 Index rose 9% in the last 24 hours. It established strong support around the $0.142-$0.145 zone with substantial buying volume, confirming the rebound's legitimacy
Technical Analysis Breakdown
DOGE/USD experienced extreme volatility, dropping from $0.165 to $0.130 (21.2% range) before staging a significant recovery.
A strong bullish reversal pattern formed with solid support established in the $0.142-$0.145 zone, according to CoinDesk Research's technical analysis model.
Volume analysis confirms recovery legitimacy, with peak accumulation during the April 9th rally pushing prices above the critical $0.160 resistance.
Price currently consolidating at the 61.8% Fibonacci retracement level with horizontal support at $0.155.
In recent trading, DOGE formed a clear ascending channel with support at $0.155 and resistance at $0.156.
Significant accumulation occurred during the 11:32 period with 7 million units of volume, confirming buyer interest.
30 minutes of trading during early U.S. hours showed increasing momentum with consecutive higher lows and a breakthrough above the $0.156 resistance.
The pattern suggests a potential continuation of the uptrend toward the previous 48-hour high of $0.165.
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