- Dogecoin trades near the top of a long-term falling wedge, with $0.1502 acting as a firm resistance level.
- The $0.1347 support continues holding, keeping the wedge structure intact despite the recent 0.9% weekly decline.
- A momentum candle on the 12-hour chart will determine whether DOGE confirms an upside breakout from the tightening formation.
Dogecoin entered a severe technical stage when the 12-hour chart indicated that the token was approaching the top edge of an extended falling wedge. The stock was traded at $0.1503 with a slight 0.9% drop in the previous week, with the market evaluating whether the existing momentum could assist in launching an upward advancement.
The wider arrangement provided traders with a specific perspective of DOGE with regard to the support and resistance levels within the pattern. The narrowing formation created defined boundaries, and buyers watched these levels closely as the price approached the wedge line. This environment added interest to short-term behavior as the next move depended on sustained pressure near resistance.
Wedge Boundary Holds as Price Retests Resistance
DOGE hovered near the resistance line at $0.1502, and the chart showed repeated attempts to push above it. However, each attempt met selling pressure that slowed progress. The token continued trading above the $0.1347 support level, which remained intact despite recent volatility. This support provided a base that kept the structure stable. Furthermore, the 24-hour range stayed tight, reinforcing the view that the market awaited confirmation from the next candle.
Momentum Builds as Structure Compresses
The falling wedge continued to narrow, and price compression often created sharper movements in either direction. DOGE’s recent interaction with the upper trendline showed stronger activity, and the market responded with increased attention. Notably, the current level aligned with the point where previous wedges created faster moves. The chart also displayed a green projection box, outlining the potential upside distance if DOGE produced a clean breakout.
Market Watches for Confirmation Candle
Traders monitored the 12-hour timeframe for a momentum candle that could confirm the attempted break. A clear move above the wedge boundary would show buyers gaining control. However, failure to hold above this level would shift focus back to the lower trendline. The proximity to both boundaries made this phase important. This setup now directs attention to how DOGE behaves in the next sessions, especially as price action remains near both the resistance area and the defined breakout zone.
