Dogecoin (DOGE) Price Prediction for May 9: Will Bullish Momentum Continue?
The post Dogecoin (DOGE) Price Prediction for May 9: Will Bullish Momentum Continue? appeared on BitcoinEthereumNews.com.
Dogecoin price today is trading around $0.181 after experiencing a significant surge earlier in the day. This price movement follows a breakout from a strong support zone near $0.170. The asset has recently shown strong upward momentum, breaking through key resistance levels and continuing to climb. As Dogecoin price action shifts into bullish territory, traders are closely monitoring whether it can sustain these gains or if a retracement is imminent. What’s Happening with Dogecoin’s Price? Dogecoin price dynamics (Source: TradingView) On the 30-minute chart, Dogecoin price has surged above $0.176, breaking through previous resistance levels with ease. This breakout follows a series of higher lows, creating a bullish trendline and confirming that the market sentiment is increasingly bullish. After a brief consolidation phase, DOGE tested higher resistance zones and broke through the $0.180 level, marking a key milestone in the current rally. Key support is now located around $0.170, with previous resistance turned into support. If Dogecoin maintains this structure, we could see a continuation of the current bullish trend toward higher resistance zones. Dogecoin price dynamics (Source: TradingView) The Fibonacci retracement from the recent swing low at $0.1475 to the recent high at $0.1827 shows a key 50% retracement zone near $0.1730. This suggests that if there is a pullback, $0.1730 will be a critical support level to watch. If Dogecoin maintains support at this level, it could see a continued push toward $0.1840–$0.1850. Why Dogecoin Price Going Up Today? On the 30-minute chart, Dogecoin has seen a clear breakout from a downtrend, turning the previously capped resistance levels into newfound support. The recent move above $0.1795 marks a crucial shift in the trend, with price testing higher levels at $0.1817. A close above $0.1820 would reinforce the bullish setup and could push DOGE price spikes toward the $0.1840–$0.1850…
