Saad Ullah
⬤ Dogecoin is trading within a well-defined descending channel while testing a major diagonal resistance line that dates back to last year. The meme coin is currently hovering around the $0.13 mark, with the channel structure keeping price action compressed and limiting upward momentum.
⬤ Two key technical patterns are shaping DOGE's movement right now. The descending channel continues to guide the token lower, with the mid and lower boundaries serving as pivot zones. Meanwhile, the long-term resistance trendline drawn from previous peaks keeps blocking rally attempts. The next critical test sits near $0.16, followed by a broader resistance zone around $0.23 where the trendline intersects.
⬤ DOGE's momentum stays weak as it prints lower highs and lower lows inside the channel. The overhead resistance from the trendline adds extra pressure, squeezing price action as the token nears this technical crossroads. Still, the lower channel boundary has been holding up during recent dips, offering some structure to the downtrend.
⬤ This setup is worth watching because it shows where sentiment could flip. If DOGE gets rejected at resistance, the downtrend likely continues. But a clean breakout could unlock a move toward higher price levels and shift the current bearish structure into something more bullish.
Saad Ullah
