Usman Salis
⬤ Dogecoin is pulling back toward its multi-year uptrend line, with price action now hovering around the $0.16 USDT area. This level lines up with a major horizontal support zone that's held significance since 2023. The chart shows DOGE has consistently respected this rising trendline, forming higher lows throughout 2023 and 2024—but recent candles show the price testing and briefly dipping below it.
⬤ The technical setup is straightforward: holding this trendline keeps Dogecoin's macro upside potential alive. A confirmed bounce above it would preserve the multi-year bullish structure and could signal renewed momentum heading into December. But if DOGE continues to break down below this line, it risks entering a deeper consolidation phase that could shift the broader trend.
⬤ Long-term trendlines like this often drive sentiment and set the tone for market cycles in crypto. Whether Dogecoin can stabilize and reclaim this support zone will likely shape how traders view its outlook as the year wraps up. For now, the $0.16 level is the line in the sand.
Usman Salis
