
Key Information:
- Dogecoin experienced a significant 6% increase during the trading session from July 9 to 10, breaking through resistance, although it faced a sharp reversal at the end of the session.
- Market sentiment was buoyed since the U.S. extended its tariff deadline, increasing expectations of a Federal Reserve rate cut.
- The current price resistance is noted at $0.186, a crucial level for traders.
News Background: Trade Pause and Rate Adjustments Propel Risk Rally
- Improvement in market mood followed the U.S. tariff deadline extension, which allows for further trade discussions, alleviating short-term pressures on risk assets.
- Anticipations arise for a Fed rate cut in July as major banks predict cuts between 25 and 100 basis points if upcoming inflation reports disappoint expectations.
- These economic developments have provided the crypto markets with a favorable environment, driving DOGE and other volatile assets upwards from critical support levels.
Price Fluctuation Summary
- DOGE climbed 6% from $0.170 to $0.186 between July 9 at 03:00 and July 10 at 02:00.
- A breakout occurred between 19:00 and 20:00 on July 9, with prices rising by $0.007 and trading volume reaching 1.52 billion, nearly exceeding the 24-hour average.
- A strong resistance level manifested at $0.186, where prices repeatedly faced rejection amidst high volume.
- Support held stable around $0.180–$0.181 as the session concluded.
- In the last hour (02:28–03:27), DOGE dropped 0.55% from $0.181 to $0.180, creating a definitive reversal pattern alongside rising downward momentum.
Technical Evaluation
- Price Range: A fluctuation of $0.016 or 9.23% between the low of $0.170 and high of $0.186.
- Resistance: The peak was at $0.186, which faced repeated high-volume rejections between 21:00 and 23:00.
- Support: The $0.180–$0.181 zone stood firm during the close but began to falter during late-session selloff.
- Breakdown: The 02:28–03:27 session saw successive breaks of support levels at $0.1808, $0.1806, and $0.1803 under significant sell volume, indicating institutional selloff activity.
- Volume: 1.52 billion during the breakout, with 4.9 million in the final reversal, confirming both bullish entries and bearish exits.
Trader Monitoring Points
- Can DOGE overcome $0.186 and convert it into support? Look for continued volume above this threshold.
- Should the decline persist, the next support levels to watch may be $0.176 and $0.172, based on prior consolidation.
- RSI and OBV metrics on shorter timelines signal potential short-term exhaustion; however, overarching sentiment remains positive overall.
- The rally range from July 9–10 could play a role as the “handle” in a broader weekly cup-and-handle pattern; further validation would require a breakout above $0.195 on amplified volume.