Dogecoin has reclaimed its local highs near $0.176 after a series of breakouts failed to materialize, showing positive bullish momentum. The altcoin’s upward push has kept buyers optimistic while sustained bearish pressure constrains its advances. Reaching and remaining above the $0.18 resistance continues to test bulls’ resolve.
DOGE’s second rally after $0.175 this month suggests increased buying demand, while a significant psychological barrier lies ahead. The key point of attention is the $0.18 resistance zone, and humongous volumes of DOGE have been accumulated there, successful breach could potentially shift market sentiment.
DOGE Faces Strong Sell-Zone Near $0.18
Analyst Ali Martinez recently highlighted three main areas of resistance using Dogecoin’s UTXO Realized Price Distribution (URPD) data by Glassnode. The metric outlines how much DOGE was last bought at various price points, revealing potential sell-zones where holders may offload once break-even is hit.
From the URPD, nearly 8.94% of DOGE’s total supply was acquired at around $0.18, a key supply wall. These investors buying at such a price are now at a loss and can sell as soon as DOGE hits that price again. Such selling pressure can reverse upward traction and trigger volatility around this key price.
Breakout Targets $0.21 and $0.36
Above $0.18, there are two other areas of resistance at $0.21 (7.24% of supply) and $0.36 (3.82%). Interestingly, the region between these levels is free of major supply blocks. This is a theoretical window for a quick break on price if DOGE breaks through $0.21. Momentum can readily send it on its way to the $0.36 mark if resistance is minimal.
However, a rejection at any one of these levels can force DOGE to retest its lower areas of support. In this scenario, in-profit holders would consider a drop as a dip-buying and potentially take in the downside.
The next zone of demand below the prices is at $0.07, and 20.03% of DOGE’s total supply was acquired here. It is a very large zone of demand, and the market can absorb sharp drops here. If prices retrace heavily, this level may act as a stronghold for DOGE’s long-term bullish structure.
Also Read: Dogecoin (DOGE) price prediction 2025: Will DOGE break $0.74 again or fall to $0.10?
