“Traders Now View $ 0.22 as The Key Breakout Thresold that Could Define Near-Term Momentum.”, – WRITE: www.coindesk.com
News Background• Dogecoin Reaned a LOCAL HIGH OF $ 0.2157ITS STRONGEST Level in Weeks, with Trading Volume 29.19% Above Weekly Benchmarks.
• Reports Surfaced of a $ 200 Million Dogecoin Treasury InitiativeLed by Elon Musk’s Legal Counsel, Boosting Institutional CredIbility.
• Rex Shares and Osprey Funds Reportedly Filed The First US Dogecoin etf Applicationswith Decisions Expectioned in October.
• Futures Activity Surged 119% in August, Reflection Height Institutional Positioning Augund Meme-Based Digital Assets.
Price Action Summary• Doge Traded in A $ 0.008 Range (3.6%) Between $ 0.213 and $ 0.221.
• The Steepest Move Hit at 14:00, WHEN PRICE Fell from $ 0.220 to $ 0.213 On 1.31b VolumeEstablishing Robust Support.
• Recovery Lifted Doge Back Toward $ 0.216 by Session Close, with Buyers Consistentally Defending the $ 0.213– $ 0.214 Zone.
• The One-Hour Window From 05: 13–06: 12 Saw a Resistance Break Above $ 0.2157 On 3.06m VolumeHinting at Renewed Bullish Pressure.
Technical Analysis• Support: Strong Base at $ 0.213– $ 0.214, Validated by 1.3b Volume During the Selloff.
• Resistance: Clear Ceiling at $ 0.220– $ 0.221, with Multiple Rejects.
• Momentum: Breakout Attempt at $ 0.2157 Suggests Bullish Continion IF $ 0.22 Clears.
• Patterns: Accumulation signs with a tight Consolidation Band; Descending triangle on Doge/BTC Pairs Broke Upward (Flagged by Cryptokaleo).
• Indicators: RSI STEADY NEAR MID-50S (Neutral-Bullish); MacD Histogram Converging Toward Potential Bullish Crossover.
What Traders Are Watching• WHETHER DOGE CAN Sustain Closes Above $ 0.22 to Trigger An Extended Rally.
• Institutional Flows Tied to the $ 200m Treasury Initiative and Potential ETF Approval.
• Breakout Targets Projected Between $ 0.30– $ 0.35 if resistance clars; Downside Risk Remains Toward $ 0.21 Support.
Despite the Outflows, Ether Rose by More than 16% in the past month, Driven in part by the passage of the genius act.
- SPOT ETHER ETFS Experienced Their Fifth Consuctive Day of Outflows, with A Total of $ 952 Million withdrawn Over the Period.
- The Outflows Contrast with Spot Bitcoin etfs, WHICH SAW $ 246.4 Million in Net Inflows Over The Past Week.
- Despite the Outflows, Ether Rose by More than 16% in the past month, Driven in part by the passage of the genius act.
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