Dogecoin News: Dogecoin Bounces 2% After Bullish Double Bottom Formation, Resistance at $0.17 in Focus

Key Takeaways:Dogecoin gains over 2% after forming a bullish double bottom around $0.157.Rally aligns with Bitcoin’s rebound from $105K to $107K.A breakout above $0.17 is needed to confirm a bullish trend reversal.Volume spikes and ascending channel suggest rising buyer interest.Dogecoin (DOGE) has regained momentum, climbing over 2% to $0.1617 after forming a bullish double bottom pattern in the $0.157–$0.158 range, according to data from CoinDesk and TradingView.The meme coin’s recovery tracks a broader market rebound, with Bitcoin (BTC) rising from $105,200 to over $107,600 during the same period.Double Bottom Pattern Signals Potential ReversalCoinDesk AI analysis shows DOGE carved out a classic double bottom—a bullish reversal pattern characterized by two equal lows and a breakout above the interim high—supported by above-average trading volume, particularly between 13:00 and 14:00 UTC on July 1.Following this formation, DOGE posted a steady rise, closing July 1 at $0.161 with sustained buyer interest. Over the early hours of July 2, DOGE maintained strength, rising from $0.1605 to $0.1611—a 0.36% gain—within a well-defined ascending channel.Resistance at $0.17 Critical for Trend ReversalDespite the intraday bullish momentum, Dogecoin’s broader downtrend remains intact, marked by a series of lower highs since mid-May. For DOGE to invalidate this bearish structure, analysts say a confirmed breakout above $0.17—its most recent lower high from the weekend—is required.“Until DOGE clears $0.17 on convincing volume, the broader trend still leans bearish,” said technical analysts monitoring the pattern.Volume Confirms Buyer CommitmentDuring DOGE’s mini rally on July 2, key volume spikes were recorded at 06:06 and 06:07 UTC, with trades exceeding 4.4 million and 6 million tokens, respectively. These volume surges, along with the hourly close back at session highs, underscore renewed buyer conviction.DOGE’s near-term outlook remains bullish as long as the $0.157 support holds, but traders will be watching closely to see if bulls can push the price past the critical $0.17 breakout zone—a move that could mark a deeper shift in momentum, according to CoinDesk.