Key Insights:
- DOGE holds daily descending trendline after six consecutive support tests this week.
- Intraday charts show lower highs as price breaks short-term support levels.
- Dogecoin must reclaim $0.098–$0.100 to reduce immediate downside pressure.
Dogecoin trades at $0.09657 after recent losses. The token has fallen 3.28% in the past 24 hours and 14.3% over the last seven days. Trading volume stands at $501.5 million as price remains under pressure.
Charts show DOGE sitting near a key descending trendline on the daily timeframe. Traders now focus on whether the level will hold or give way.
Daily Trendline Faces Repeated Tests
On the daily chart, DOGE remains just above a descending trendline that previously acted as resistance. Price has tested this line for six straight sessions. Each daily candle has closed near the level without a clear breakdown.
Trader Tardigrade wrote that “Trendline holding” but added that “momentum weak.” The recent bounce has not produced strong follow-through. Candle bodies appear smaller compared to the initial breakout move.
As long as DOGE stays above the descending line, the broader structure remains intact. A clear daily close below it would cancel the breakout attempt and shift focus back to downside levels.
Intraday Chart Signals Continued Selling
Short-term charts show stronger bearish pressure. On the 30-minute timeframe, DOGE has broken below recent support and trades near $0.09675. The structure shows lower highs and lower lows.
KrissPax stated that “All Dogecoin support broken again.” Price also failed to reclaim the $0.10000 level, which now acts as resistance. A short-term ascending support line was lost during the latest drop.
Red candles expanded with higher volume, pointing to active selling. Immediate support now sits near the $0.095–$0.094 range.
Key Levels Define Next Move
DOGE stands at a technical crossroads. The daily trendline continues to act as support, while intraday charts show weakness. Traders are watching for either a confirmed breakdown or a strong recovery.
Trader Tardigrade noted that price needs “genuine buyers” and “conviction candles” to confirm upside strength. Without a move back above the $0.098–$0.100 zone, pressure may persist.
The next daily closes will determine whether DOGE holds the trendline or extends its recent decline.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
