Dogecoin is once again at a turning point as price compresses near the $0.09–$0.10 support region. According to TradingView analysis, DOGE/USDT on Binance has spent months moving inside a broad descending structure after its explosive rally in late 2024.
That surge carried the price toward the mid-$0.30 to $0.35 area before momentum faded and sellers gradually pushed the market into a long corrective phase.
Source: TradingView
However, currently, the weekly candle is trading around $0.10, and the chart is testing the demand zone, which has acted as a floor on many occasions. Therefore, the current level is technically decisive.
If it breaks below $0.09, then the liquidity may move to the $0.07 level. If it bounces up from the support level, then it may move back to the descending resistance level of $0.20.
Also Read: Massive Dogecoin (DOGE) Upside Brewing: 10x Potential Ahead
Dogecoin RSI Signals Weak Momentum Near Oversold Zone
The momentum indicators are still advising caution and not strength. The weekly RSI (14) is in the mid-30s, below 50, and headed towards oversold. In the past, Dogecoin’s RSI values of 30-35 have indicated periods of flat prices or slow buying.
Source: TradingView
The MACD is still negative. The MACD line is below the signal line, and the histogram bars are in the bearish zone. The histogram appears to be shrinking, but there is not yet a confirmed bullish crossover. Until the MACD begins to flatten out and cross above the signal line, the rallies will continue to see selling pressure.
Traders Focus on the $0.08–$0.13 Range
Market structure on the daily chart indicates a downtrend until 2025. After reaching a peak of $0.45-$0.48, Dogecoin began forming lower highs and lower lows. The price has remained below the declining moving averages, which serve as dynamic resistance.
Traders Daan Crypto Trades pointed out on Feb 15 that DOGE has displayed good price action following last week’s test at $0.08. He identified the $0.08-$0.13 region as a large trading range and stated that remaining above it would increase confidence in reaching the daily 200 MA and EMA.
Source: X
Also Read: Dogecoin Attempts Reversal as Technical Indicators Signal Potential $0.25 Rally