- Dogecoin fell 2.8% in 24h to $0.2341, staying above $0.2307 support.
- Price faced three consecutive rejections at $0.2458 resistance in recent months.
- RSI near 47 and MACD at -94.01M show neutral to mild bearish momentum.
Dogecoin’s price activity has recently shown notable challenges in breaking higher resistance levels. Over the past trading sessions, the cryptocurrency recorded three consecutive rejections around a key price ceiling, stalling upward momentum.
At the time of reporting, DOGE was trading at $0.2341, a 2.8 decrease in the past 24 hours. The immediate 24-hour high-low range is between 0.2307 and 0.2458 with the lower end providing immediate support. Against Bitcoin, DOGE is valued at 0.051972 BTC, showing a 4.5% increase, while it trades with relative stability against other major pairs.
DOGE Struggles at Key Resistance While Support Remains Intact
On the daily chart, DOGE has encountered firm rejection near the $0.2458 resistance area, which has been tested three times in recent months. The repeated inability to breach this level has limited short-term upward extensions. Support at $0.2307 remains critical, containing recent pullbacks and preventing deeper declines toward the next lower technical zone. The broader chart also shows previous reversals occurring near the same resistance area, aligning with the current price behavior.
DOGE Shows Neutral Momentum with Balanced Buying and Selling Pressure
Short-term technical indicators provide further insight into DOGE’s recent performance. . On the hourly timeframe, The Relative Strength Index is 47.41, and RSI close is 44.95, indicating a neutral momentum. This positioning suggests that buying and selling pressure remain relatively balanced.
Meanwhile, the MACD shows both the MACD line and signal line close to -94.01M, with the histogram reflecting modest downside pressure. Such readings align with the price unable to sustain its gain beyond resistance. The market situation indicates a more extended period opposition pattern of DOGE in the vicinity of a dollar twenty-five and a dollar twenty-five eight.
This area has historically acted as a turning point, with sharp reversals following rejection attempts. The latest rejection aligns with similar moves observed earlier this year, including in late July. The volume pattern in the past sessions suggests that buying pressure surges at resistance wanes rapidly to enable successful sellers to gain short-term advantage. The second directional action will probably hinge on how the support at $0.2307 holds up to further pressure.
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