- Dogecoin is consolidating inside an ascending triangle on the two-hour timeframe.
- Resistance is reinforced at $0.2385, with multiple failed breakout attempts.
- Support at $0.2291 continues to hold firm despite a 4.2% weekly decline.
Dogecoin has entered a phase of consolidation while traders watch the lower timeframe closely. The cryptocurrency is trading at $0.2316 which is a 4.2% drop in the last seven days. But the chart patterns on the two-hour chart show that an ascending triangle has formed, and this occurs when prices compress between a horizontal resistance and an upwards trend line. This development has drawn attention to the immediate levels of support and resistance that frame the current market range.
Dogecoin Consolidates Within Ascending Triangle Pattern
The upper boundary of the structure aligns with resistance at $0.2385. Price action has tested this barrier several times without establishing a breakout. Each approach has reinforced the horizontal line as a strong ceiling on the short-term chart.
Despite repeated attempts, momentum has not yet carried Dogecoin above this resistance. This persistence underscores the importance of $0.2385 in defining the next directional move.Below current levels, support stands firm at $0.2291. This level has acted as the base of the ascending triangle, preventing deeper declines in recent sessions.
Price movements during the past days show consistent rebounds from this point, confirming its short-term strength. The trendline drawn from higher lows further supports this base, highlighting the gradual compression of price action within narrowing ranges.
Two-Hour Chart Highlights Ongoing Pattern
The two-hour chart outlines a clear ascending triangle as price trades between $0.2291 and $0.2385. Candlestick formations illustrate multiple tests of resistance and higher lows meeting the rising trendline. This structure reflects consolidation, with price confined inside converging trendlines. With a seven-day decline of 4.2%, traders are focusing on the short-term compression that dominates current market conditions. The range between support and resistance, combined with the visible triangle pattern, continues to define Dogecoin’s immediate structure.
Dogecoin remains positioned inside the ascending triangle on the two-hour chart, with resistance at $0.2385 and support anchored at $0.2291.
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