Dogecoin (DOGE) fell 6% amid bearish market pressure but found firm support near $0.227. Strong buying volume and steady investor confidence hint at a possible rebound in the near term.
Ongoing global economic uncertainties and shifts in trade policies have caused turbulence across crypto markets. Despite this, Dogecoin has demonstrated notable resilience against the downward trend.
The meme coin has been trading within a defined bearish channel, facing resistance at $0.236. However, persistent buying at key support levels suggests investors remain confident despite the broader market headwinds.
Technical Analysis Summary
- Over the past 24 hours, DOGE declined from $0.238 to $0.227, marking a 6.3% drop within a $0.015 trading range.
- Price action has established a clear bearish channel, with resistance around $0.236 and support near $0.224.
- High-volume buying was observed during the 23:00 hour, with 643 million in volume—well above the daily average.
- After hitting the cycle low, DOGE entered a consolidation phase between $0.227 and $0.230, accompanied by reduced volatility.
- In the last hour, DOGE showed increased volatility with a downward bias, falling 0.87% from $0.229 to $0.227.
- The token formed a pattern of lower highs and lower lows, with heavy selling pressure noted at 13:35 and 13:56.
- A temporary support level solidified at $0.227 as buyers stepped in at 14:01, driving the hour’s highest volume spike of 4.5 million.
