Dogecoin [DOGE] smashes past $0.078 resistance, bulls target $0.1

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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Dogecoin [DOGE] has performed bullishly in the past few days. The price has steadily crept upward from the $0.072 support zone in the past five days before a strong breakout past the $0.08 region of resistance.

Realistic or not, here’s DOGE’s market cap in BTC’s terms

In an earlier report, the $0.078 area was highlighted as a strong resistance zone, where DOGE could face rejection. Instead, prices surged above this area and bulls continued to drive prices higher.

Source: DOGE/USDT on TradingView

A fair value gap on the daily timeframe was highlighted in white. It was formed in early March, and the same region was retested as resistance in mid-March. The bears were able to rebuff the buyers multiple times, as evidenced by the candle wicks into the imbalance zone.

Finally, after repeated attempts, the bulls could force a breakout past $0.08. This also shifted the bearish market structure to a bullish one, as the lower high set at $0.0792 was broken by the daily session close at $0.0818.

The RSI climbed above neutral 50 to stand at 62.3, showing strong bullish momentum. The OBV also climbed upward to show demand and buying pressure behind Dogecoin.

How much are 1,10,100 DOGE worth today?

To the north, the next band of stiff resistance lay in the vicinity of $0.088 and $0.093. The $0.093-$0.095 area, in particular, was stubborn to resistance back in February. Hence, buyers from lower levels can look to take profits at these levels. Meanwhile, buyers looking to enter the market can wait for a retest of the $0.078-$0.08 region.

Source: Santiment

The 30-day MVRV climbed toward the highs it