Dogecoin Surges 15% Breaking $0.15 Support

Dogecoin has recently exhibited a bullish market structure, marked by a strong engulfing candle and a significant volume spike. This shift has pushed the cryptocurrency above its high time frame support at $0.15, a level that previously acted as a base for its range. The breakout was confirmed by the price reclaiming the point of control (POC) and moving into higher territory. As Dogecoin approaches a major resistance cluster between $0.22 and $0.24, the next few trading sessions will be crucial in determining whether the trend will accelerate or cool off for a healthy pullback.

The recent breakout is technically significant as it marks a decisive move above the $0.15 support level after weeks of consolidation and failed rallies. The move was accompanied by strong volume, indicating genuine buyer interest rather than a short squeeze or anomaly. The current resistance zone between $0.22 and $0.24 is a confluence of the value area high and the 0.618 Fibonacci retracement level from the prior downtrend. This makes it a strong confluence zone where a short-term rejection could be technically healthy, especially if followed by the formation of a higher low, a key component of a sustainable bullish trend.

If the price rejects at this resistance level, traders should monitor support tests around prior breakout levels and ensure that volume remains steady. This would preserve the structure while allowing price action to reset. However, if the price breaks above the $0.24 resistance with strong volume continuation, the next expansion target lies at $0.32, which aligns with a key Fibonacci level and a historical price ceiling. According to the analyst's forecast, this could fuel a run to $0.32, setting the stage for further upside.

Overall, the trend has now shifted bullish. Whether it consolidates or continues upward in the short term, the breakout from $0.15 and structure confirmation sets the stage for further upside. A correction from $0.22–$0.24 is likely but healthy. If this resistance breaks with volume, a sharp move toward $0.32 becomes the high-probability scenario.