Dogecoin rallies 17% as bullish reversal pattern emerges near $0.239 resistance

Dogecoin has recently exhibited a bullish reversal pattern, with its price forming a double bottom near the $0.14–$0.16 range. This technical formation suggests a potential shift in the market sentiment, as the cryptocurrency gains upward traction. The $0.239 resistance level is now under close scrutiny, as a breakout above this point could confirm the reversal and open the door for further gains.

According to analysts, the double bottom pattern indicates two key troughs near the $0.14 level, with a rounded base shaping up between late March and early June. This range has acted as strong support, holding firm during previous sell-offs. If Dogecoin can push past the $0.239 resistance and hold, the reversal pattern could be confirmed, potentially building confidence among traders anticipating a trend change.

Over the past week, Dogecoin has rallied more than 17%, now trading at $0.1981. This uptick supports the notion that momentum is building and investors are watching the key resistance level closely. Volume spikes during upward moves signal growing interest, which could fuel further gains if current momentum holds. Technical analysts often look for strong volume alongside breakouts to validate moves and confirm strength in the trend.

Another analyst pointed out that Dogecoin’s breakout target remains near $0.6533. He suggested that the recent recovery could mark the beginning of a broader rally with upside potential. Although still below resistance, DOGE price is gaining pace after consolidating in a narrow range. The market is responding to this shift with growing attention. Traders now await confirmation through a clean break and hold above the $0.239 level. Should that happen, the path toward $0.30 or higher may begin to unfold.

The current structure shows a defined support base between $0.14 and $0.16, which has consistently prevented deeper drops. On the other side, resistance at $0.239 has repeatedly capped upside attempts. The next sessions will likely determine whether Dogecoin continues to climb or faces renewed selling pressure. If the breakout occurs with strong volume and a stable retest, bullish momentum could continue. Otherwise, traders might see another dip toward the established support. For now, Dogecoin remains in focus as technical signals align.