Dogecoin trades close to key assist as weekly chart exhibits third trendline contact, hinting at potential rebound.
Because the crypto market continues to face heightened volatility, Dogecoin (DOGE) has not been proof against latest downturns. DOGE is at the moment buying and selling at $0.1611, reflecting a 11.7% decline over the previous seven days. This notable drop highlights latest bearish sentiment surrounding the broader market.
The 7-day worth chart exhibits a transparent downward development, with a major dip occurring round November 13, the place DOGE fell steeply on the again of a broader market collapse. Though the worth exhibits some indicators of restoration, the general motion for the week stays destructive.
Dogecoin Value Evaluation
Technically, Dogecoin’s 1-day chart is exhibiting indicators of consolidation simply above a key assist space. On the time of study, DOGE is buying and selling round $0.161, under the 0.236 Fib degree at $0.16541, which has acted as resistance over the previous few days.
A break above this degree may open the door to the subsequent resistance zones at $0.17384 (0.382 Fib) and $0.18066 (0.5 Fib), whereas failure to carry the assist at $0.1578 might even see worth retesting the latest low and even shifting decrease.
Moreover, the Relative Energy Index (RSI), at the moment studying at 37.93, means that DOGE is approaching oversold territory, with the normal oversold threshold sitting at 30. This degree signifies that sellers could also be shedding momentum, and a reversal or aid bounce could possibly be on the horizon if shopping for curiosity returns.
Dogecoin Weekly Chart
Elsewhere, in accordance to Dealer Tardigrade, Dogecoin is at the moment exhibiting a probably important technical improvement on the weekly chart. The newest weekly candle has closed proper on a key assist trendline across the $0.15 area, marking the third contact of that trendline.
This present setup is being in comparison with the same worth construction noticed between 2023 and 2024, which preceded a gradual however regular bull run as a part of Dogecoin’s broader 2021–2026 market cycle. The implication is that DOGE might as soon as once more be positioning itself on the early stage of a bigger bullish transfer, offered this assist degree continues to carry.
DisClamier: This content material is informational and shouldn’t be thought-about monetary recommendation. The views expressed on this article might embody the creator’s private opinions and don’t mirror The Crypto Primary opinion. Readers are inspired to do thorough analysis earlier than making any funding choices. The Crypto Primary shouldn’t be chargeable for any monetary losses.
