Saad Ullah
⬤ Dogecoin is now sitting at a crucial support level on the 4-hour chart, testing a zone that could determine where it heads next. The price is hovering right around $0.14, which lines up with the neckline of what looks like a head and shoulders pattern. This setup has traders watching closely to see if the support holds or breaks.
⬤ The pattern itself tells a clear story. There's a left shoulder, followed by a higher peak that formed the head, and now a right shoulder taking shape. Each time the price tried to rally, it couldn't push higher than before, showing that momentum is fading. The blue horizontal line marking support has been tested several times already, making this level even more important.
⬤ Right now, the price action is balanced on a knife's edge. If Dogecoin manages to stay above this support zone, we could see more sideways movement while the market figures out its next direction. But if it breaks down through the neckline, the head and shoulders pattern would be complete, and that typically means more downside could follow based on how these patterns usually play out.
⬤ This matters beyond just Dogecoin itself. As one of the most-watched meme coins, DOGE often moves in sync with broader crypto speculation. How it behaves at this technical boundary could set the tone for other similar coins in the short term. With price sitting right at this clearly marked level, the next few moves will likely shape volatility and direction for the days ahead.
Saad Ullah
