Peter Smith
⬤ Dogecoin is focusing on a crucial technical retest as it trades near a former resistance trendline on the 4-hour chart. DOGE is trying to hold above a trendline that previously acted as resistance during the recent downtrend. The chart shows several earlier rejections along this descending line before price finally broke above it and pulled back for a retest.
⬤ The structure shows how Dogecoin respected the downward-sloping trendline multiple times, with each rejection pushing price lower. After forming a local low, DOGE bounced back and returned to this same trendline from above. This is a classic flipped-resistance scenario, where former resistance is now being tested as new support. Current candles are clustering around this zone as the market decides whether the level will hold.
⬤ Price is trading around $0.12 during the retest, recovering from recent lows near $0.118. If Dogecoin holds support above the trendline, the structure supports continued upward movement. A failure to hold would weaken the short-term bullish setup and could reopen downside risk toward prior consolidation zones.
⬤ Dogecoin's ability to maintain this flipped resistance could influence near-term momentum across the broader memecoin segment. Since DOGE frequently reflects shifts in short-term speculative interest, this retest may clarify whether the recent bounce can extend or if price enters another consolidation phase.
Peter Smith
