Dogecoin Breaks Cup and Handle, Targets $0.10

Dogecoin has broken out of its cup and handle structure on the 12-hour chart, according to trader @TATrader_Alan. This development opens up a potential move towards $0.10.

The price cleared the handle resistance and completed the technical formation, which is considered a bullish signal. However, volume expansion and a sustained close above the trendline are still needed for confirmation of the breakout.

On the 4-hour chart, Dogecoin's price sits at $0.09, testing upper Bollinger Band resistance. The Relative Strength Index (RSI) is currently neutral at 55.56, while the Moving Average Convergence Divergence (MACD) has registered a death cross.

The EMA50 serves as immediate support for Dogecoin's price at $0.09, and the EMA200 provides a deeper floor at $0.08. This suggests that any healthy pullback would likely stall before continuation towards the psychological level of $0.10.