## Dogecoin Forecast for May 22 – A Bullish Outlook Persists Despite Recent Volatility 🌎🚀 💰 📈 📉
The cryptocurrency market shows a mostly green trend today, as CoinMarketCap reports that the majority of coins are experiencing gains.
Dogecoin (DOGE), the leading gainer today, has seen a noteworthy jump of 6.73%. This bullish momentum is evident on hourly charts, where DOGE broke out past its local resistance of $0.2437.
Looking at the bigger picture, the price of Dogecoin is currently situated within a wide channel between the support level of $0.2058 and the resistance point of $0.2598. 📈
Despite the recent surge in volume, it’s been declining, suggesting a potential for minimal volatility in the near term.
The midterm outlook appears positive for bulls, with a focus on maintaining the current price level around the $0.25 mark. A successful breakout could fuel further price movements toward the $0.30 target zone.
As of press time, Dogecoin is trading at $0.2405.
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