Dogecoin marks a bullish breakout as the House of DOGE launches an Official Dogecoin Reserve. Will this push DOGE prices to $0.25?Dogecoin trades at $0.1873, having surged nearly 5% over the past 24 hours. The bullish recovery is closing in on the $0.20 psychological mark.Furthermore, the DOGE price trend indicates a breakout event, signaling an extended rally ahead. Will this result in a price surge to the $0.25 mark?Dogecoin Channel Breakout Signals Post-Retest ReversalOn the 4-hour price chart, the DOGE price trend shows a bullish comeback, gaining momentum with a 5% surge in 24 hours. The recovery led to a breakout of a long-standing resistance trendline.Dogecoin Price ChartThe resistance trendline had previously kept bullish growth under control within a parallel channel. After the bullish breakout, the DOGE price trend retested the broken trendline.This suggests a potential post-retest reversal for Dogecoin. The recovery rally has also surpassed the 50-day and 100-day EMA lines, increasing the likelihood of a positive crossover between the two.Additionally, the MACD and signal lines are maintaining a bullish alignment in positive territory. Thus, technical indicators suggest an optimistic outlook for Dogecoin.House of DOGE Launches Official Dogecoin Reserve Fueling the bullish trend in Dogecoin, the Dogecoin Foundations corporate arm, House of Doge, has recently announced the launch of the Official Dogecoin Reserve. This strategic reserve includes an initial purchase of 10 million DOGE, valued at nearly $1.8 million.The purpose of the strategic reserve is to support the global currency and payment vision of the Dogecoin Foundation.Dogecoin Price TargetsAccording to the Fibonacci levels, the post-test reversal in Dogecoin is likely to target the 23.60% Fibonacci level at $0.1945. This is very close to the 200 EMA line and the $0.20 psychological mark.If the bullish momentum continues, the breakout rally could target the 50% Fibonacci level at $0.2536, indicating an upside potential of nearly 38%.On the downside, the key support level is the 50 EMA line at $0.1739, followed by the $0.15 psychological support.
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