Is DOGE breaking through or is it a bull market trap? Ethereum's strength drives a break of resistance! DOGE rose 0.81% to $0.1473 on Tuesday, breaking through the key resistance at $0.1470, with trading volume surging 312% (15:00-17:00 GMT), indicating active institutional funds, pushing the price from $0.1406 to a peak of $0.1532. News background:
On-chain active addresses reached 67,511 (the second highest in 3 months), but there was a net outflow of $4.81 million, indicating a diversion of funds. The fundamentals are complex, with initial signs of accumulation emerging. Technical analysis:
Confirmation of an upward channel, with a more solid high-low structure between $0.1469 and $0.1512. However, it is still below the 20-day EMA ($0.1476), and the 50/100/200-day EMA ($0.1649/$0.1836/$0.1975) show a bearish arrangement, exerting resistance. RSI is neutral at 41, MACD is close to a golden cross, with early recovery in momentum. Price movement summary:
Opening stable, retracing after the breakout to stabilize above $0.147, consolidating in the $0.1520-$0.1530 range towards the end. Trader's note:
Maintaining support at $0.1470 is crucial; a breach may see a drop to $0.138; breaking through $0.1522-$0.1530 targets $0.1580-$0.1649. Volume is key, above 600,000/hour supports further rises. DOGE breaks resistance riding on Ethereum's momentum, but caution is needed for a pullback under institutional dominance. What do you think?
