Usman Salis
⬤ Dogecoin just hit a major support and liquidity zone on the daily chart after months of steady selling pressure. The meme coin has been bleeding value for weeks, but it's finally reached a level where things might actually stabilize.
⬤ Earlier this year, DOGE showed some promise with those classic rounded accumulation patterns that traders love to see. Those setups delivered solid rallies before everything flipped. Since hitting those highs, the coin has been in full retreat mode, knocking out support levels one after another. The latest drop looks like it swept up remaining liquidity, pushing DOGE into territory where sellers might finally be running out of steam.
The chart shows DOGE sitting at a zone where selling pressure has slowed and price is beginning to stabilize rather than continue accelerating downward.
⬤ Right now, Dogecoin is hovering near the bottom edge of this support zone. Price action has tightened up, volatility's narrowing, and the freefall seems to have paused. This liquidity zone has likely soaked up most of the panic selling, though we're not seeing clear reversal signals just yet.
⬤ What happens here matters. If DOGE can actually hold this level, there's room for a bounce toward those higher resistance areas marked on the chart. But if this support cracks, we're probably looking at more downside and continuation of the bearish trend that's dominated for months. The next few sessions will tell us whether Dogecoin found its bottom or just took a breather before dropping further.
Usman Salis
