DOGE Breaks $0.195 Level on Heavy Trade, Wyckoff Setup Points to Next Leg Higher

Dogecoin (DOGE) experienced a 2.4% rally, climbing from $0.1911 to $0.1957 and decisively breaking the $0.1953 resistance level. This move was supported by a significant 68% surge in trading volume above daily averages, signaling strong institutional participation and accumulation. Analysts noted that the price action, characterized by higher lows and consolidation near session highs, closely resembles historical Wyckoff accumulation phases, suggesting the potential for a subsequent upward leg if support at $0.1940 holds. The breakout occurred during the October 23 session, with buyers absorbing supply during retests. Traders are now watching for DOGE to sustain above $0.195, with a break above $0.20 potentially triggering momentum inflows. Downside risk is limited to the $0.194 support floor; a drop below this level could lead to a retracement toward $0.188.

(Source：CoinDesk)