Dogecoin Price Holds Above Key Support As Bullish Channel Signals Breakout Toward $0.30 (Technical Analysis)

Summary The 20-EMA currently sits at $0.262 and continues to act as dynamic support, while the 50-EMA and 100-EMA at $0.246 and $0.229, respectively, offer additional downside buffers. Momentum indicators further confirm strength. Open interest has jumped by nearly 20 percent to $5.12 billion, with trading volume rising more than 51 percent in the last 24 hours. By Mirjan Hipolito Dogecoin (DOGE-USD) is trading near $0.269 on July 21, preserving its position within a rising 2-hour channel that has guided the asset’s uptrend since mid-July. Each pullback along this structure has been met with steady accumulation, allowing DOGE to consistently make higher lows. The 20-EMA currently sits at $0.262 and continues to act as dynamic support, while the 50-EMA and 100-EMA at $0.246 and $0.229, respectively, offer additional downside buffers. The technical backdrop remains supportive as long as these levels remain intact. Momentum indicators further confirm strength. DOGE price dynamics (Source: TradingView) The RSI is holding at 67.45, just below overbought territory. Its sustained presence above the 60 mark throughout this rally reflects consistent buying interest. Unless RSI breaks down toward the 50 level or prints bearish divergence, DOGE remains poised to re-test the $0.287 ceiling of its current channel structure. So far, no exhaustion signals have emerged, and the price continues to trade above the channel’s midline. Derivatives data backs breakout potential as bulls dominate In the futures market, DOGE has seen a sharp uptick in interest. Open interest has jumped by nearly 20 percent to $5.12 billion, with trading volume rising more than 51 percent in the last 24 hours. Options market activity also surged by 265 percent over the same period, reflecting growing speculative appetite from both retail and institutional sides. Trader positioning continues to lean heavily bullish. Binance’s DOGE/USDT top trader long-to-short ratio stands at 3.88, a significant tilt in favor of longs. Similar sentiment is seen on OKX and other venues. While such skewed positioning can sometimes precede corrections, current liquidation data tells a different story. Over the last 24 hours, $13.67 million in long positions were liquidated compared to $10.59 million in shorts, indicating that bearish bets are still being squeezed out. If DOGE breaks above the $0.287–$0.290 resistance range, momentum-driven bids could push the price toward $0.30. Conversely, a fall below $0.262 would question the structural integrity of the trend and possibly invite a deeper retracement to the $0.246–$0.250 area. In earlier analysis, we noted DOGE’s consistent respect of the ascending channel and the role of EMAs in stabilizing price action . That structure remains unchanged as of July 21, with bullish participation in both spot and derivative markets offering continued support. The trend remains valid as long as the price stays above the $0.262 mark, with $0.287 and $0.30 in focus for the sessions ahead. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post

Source: Seeking Alpha