Saad Ullah
⬤ Dogecoin pushed toward the top of its multi-week descending channel, hitting a key technical spot on the 4-hour timeframe. After climbing from recent lows, DOGE reached the channel's upper boundary, with traders watching to see if it can keep the momentum going. The coin is currently trading around 0.149 to 0.153 as it tests this upper trendline while holding onto its short-term gains.
⬤ The chart shows two recent oversold RSI readings that both triggered sharp price bounces. These oversold zones are clearly visible, with the RSI dropping below key thresholds before climbing back toward neutral territory. DOGE responded to these momentum shifts by bouncing from near 0.130 and pushing steadily toward the channel top. The recent price acceleration came right after the latest RSI oversold signal.
⬤ Dogecoin is still moving within a broad descending channel marked by parallel trendlines, and the upper boundary now acts as important resistance. The pattern of lower highs suggests this latest move up is hitting established resistance. With price sitting near 0.150 and RSI holding in neutral range, DOGE is at a point where the next direction should become clear soon.
⬤ What happens at major channel levels often shows shifts in market sentiment. Dogecoin's move toward long-standing resistance, combined with its strong bounce from oversold conditions, reveals changing momentum. How price reacts at this channel top will shape expectations for DOGE's near-term trend and give insight into the broader high-volatility crypto environment.
Saad Ullah
