- Dogecoin (DOGE) broke key resistance with notable volume growth despite reduced whale activity.
- New U.S. spot Dogecoin ETFs by Grayscale and Bitwise show steady inflows totaling approximately $2.85 million since launch.
- Technical indicators display early signs of bullish momentum with an ascending price channel and a fresh weekly “Buy” signal.
- The $0.1470 price level is now crucial support to maintain the recent breakout structure.
- Volume and sustained closes above resistance are necessary to confirm continuation amid mixed indicator signals.
In recent trading, Dogecoin (DOGE) surpassed key resistance levels with the highest volume in weeks, signaling momentum driven mainly by retail investors despite a decline in large whale transactions. This movement coincides with steady but modest participation from newly launched U.S. spot Dogecoin ETFs. The Grayscale GDOG and Bitwise BWOW ETFs recorded net inflows of approximately $177,250 on December 3, bringing total inflows since their launch to about $2.85 million, according to data from SoSoValue.
DOGE’s price formed an ascending channel marked by higher lows at $0.1469, $0.1488, and $0.1512, indicating strong accumulation behavior. Volume surged notably on upward moves and contracted during pullbacks, aligning with patterns traders seek to confirm trend shifts. The breakout above the $0.1505 resistance—its first since late November—was supported by volume three times the daily average, reinforcing the move’s credibility.
Although whale involvement has decreased, the technical setup remains robust, with $0.1470 now serving as the key support level and pivot point. This area defines the lower boundary of the ascending channel. On a broader timeframe, the $0.138 level continues to act as a major structural floor, coinciding with the 0.382 Fibonacci retracement and the 200-week moving average, attracting long-term buyers.
During intraday trading, DOGE showed steady accumulation before breaking resistance. Volume peaked at 874.7 million tokens around 14:00 GMT, with price briefly pulling back to $0.1513 before buyers regained control. The rally found guidance near the upper channel boundary around $0.1530, and the session closed in the upper half of the daily range, indicating bullish strength.
Technical tools offer mixed signals on DOGE’s outlook. Analyst Ali Martinez identified a new weekly “Buy” signal from the TD Sequential indicator, a tool that pinpoints potential trend reversals. Historically, such signals have preceded significant multi-week rallies. Conversely, TradingView’s Bull Bear Power tool showed a sell signal, reflecting persistent selling pressure during intraday fluctuations. Meanwhile, the MACD (Moving Average Convergence Divergence) indicator turned bullish as its line crossed above the signal line, often signifying increased upward momentum.
Traders are monitoring for volume confirmation and sustained closes above resistance to validate the emerging bullish trend and offset short-term bearish signals. Holding the $0.1470 support is critical; falling below this level could lead to a deeper pullback toward $0.1430 or, in extreme cases, down to the $0.138 macro support.
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