- Dogecoin’s monthly candle closed below its long-term trendline, confirming a structural breakdown that matches earlier chart behavior.
- The asset trades near the $0.1368 support level while resistance at $0.1505 defines a tight short-term range.
- The breakdown aligns with the early phase of Dogecoin season, a period that historically followed similar structural breaks.
Dogecoin’s monthly chart closed with a confirmed breakdown of its long-held support trendline, drawing renewed attention to the asset’s immediate technical structure. The breakdown arrived as the token moved back toward a narrow support area at $0.1368, a level that has shaped several recent sessions.
The move unfolded as the price declined 8.1% in the last 24 hours, placing Dogecoin at $0.1372 . However, analysts also noted that the same monthly close aligned with the start of what many market watchers describe as an extended Dogecoin season, which often follows major structural breaks. This combination kept market participants focused on the next reaction along the current range.
Breakdown Forms as Monthly Candle Closes Below Trendline
The monthly candle closed below the rising trendline that drove the prices since the beginning of 2024. This move was a confirmation of a structural break, and it corresponded to similar movements that were seen at two previous points on the long-term chart.
Notably, both previous breakdowns occurred before periods of elevated volatility. This historical pattern helped frame current discussions, even as traders noted that the setup remains defined only by the latest data. The ongoing decline brought Dogecoin back to its immediate support level, creating a narrow zone that traders continued to monitor closely.
Support and Resistance Levels Guide Short-Term Attention
The confirmed breakdown placed more weight on the $0.1368 support level. However, the 24-hour range also highlighted resistance at $0.1505, forming a compact band that limited movement during recent sessions. This contrast between broken long-term structure and short-term compression kept the market tightly focused on intraday shifts. The restricted trading range also connected to earlier periods where price stalled following structural breaks, which shaped expectations for continued observation of the immediate zone.
Market Watches Early Stages of Dogecoin Season
The monthly close also marked the beginning of a cycle often tracked as Dogecoin season on long-term charts. This period repeatedly appeared after prior breakdowns, and it featured clusters of expanded movements highlighted in the visual analysis. However, traders remained focused on current figures, noting that the asset traded just above its support level with BTC valuation at 0.051582. This positioning kept attention on how Dogecoin behaves within this developing phase, especially as the chart continues to display clustered zones that historically preceded large movements.
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