Peter Smith
Dogecoin (DOGE) is currently trading within a well-defined ascending channel that's kept bulls engaged despite recent volatility. The chart structure shows DOGE holding firm above crucial support, suggesting another push toward resistance could be on the horizon.
Dogecoin's Technical Picture
According to Cheds Trading, Dogecoin continues to respect a daily trendline that's been guiding its upward trajectory since midsummer. Even after yesterday's 4% dip, the coin is maintaining ground above $0.24, which has emerged as a critical pivot point.
The $0.24–$0.25 zone is reinforced by the rising trendline, while strong resistance sits at $0.27–$0.29, where previous rallies have stalled. Bollinger Bands are showing compression, typically a precursor to a significant price move, and the 50- and 200-day moving averages remain in bullish formation.
Why DOGE Still Attracts Attention
Dogecoin's price behavior mirrors the broader appetite for risk across crypto markets. The coin benefits from a dedicated community that consistently generates demand, while stability in Bitcoin and Ethereum often redirects attention toward meme coins. There are also signs of accumulation, suggesting traders might be positioning themselves ahead of a potential breakout toward higher resistance levels.
Next Levels to Watch
If Dogecoin holds the $0.24 support level, a retest of the $0.27–$0.29 resistance zone looks probable. Breaking above that ceiling with a daily close could open the path toward $0.32 and potentially $0.35. However, if support at $0.24 fails, we could see a deeper correction down to $0.21.
Peter Smith
