- Dogecoin is trading at $0.27031, marking a 7.7% daily gain and retesting the $0.2505 level as confirmed monthly support.
- Immediate resistance lies at $0.2759, just below the long-term descending trendline dating back to the 2021 peak.
- DOGE remains within a multi-year wedge, with a breakout above the green trendline required for structural trend reversal.
Dogecoin (DOGE) has shown new strength on the monthly chart, piercing through levels that had previously truncated price appreciation. Based on the latest statistics, DOGE currently trades at $0.27031, posting a 7.7% increase in the past 24 hours.
The asset also gained 7.2% against Bitcoin over the period, trading at 0.052297 BTC. Worth noting, the chart shows an ongoing downtrend with a declining resistance line, and present price action pushing against this upper boundary. A breakout above the green trendline is still a milestone technical occurrence, with the market now hoping for sustainable upwards momentum
DOGE Flips Key Resistance into Support, Eyes Major Downtrend Break
The chart highlights a significant structural development: the former resistance zone around $0.2505 has now transitioned into a support level. This horizontal zone was tested multiple times across 2022 through 2025, acting as both rejection and consolidation in prior cycles. However, DOGE has now closed above this zone for the second consecutive month.
The consolidation above this level suggests strong buyer activity, particularly after the recent monthly green candle. The price also remained above the support during the pullbacks, confirming the level’s strength. This structural flip sets the stage for testing the major descending resistance line drawn from the all-time high in 2021.
Key Resistance Level Approaches Near-Term
DOGE faces immediate resistance at $0.2759, which sits just above the current price. This level aligns with short-term rejections observed in prior sessions. A successful break at this level would take the token straight to the downward green trend line where all the significant rallies since 2021 have occurred. This line is an important breakout point as price has closed above this line several times; it is used as a reference historically.
Should buyers maintain pressure at the current range, testing the long-term trendline becomes increasingly likely. The price must also hold above the $0.2505 support to maintain this bullish structure.
DOGE Coils Within Multi-Year Wedge
On the broader timeline, DOGE continues to compress within a multi-year wedge formation. Lower highs and higher lows are forming along the trendline and support zone respectively. This structure has confined price movement since the parabolic spike in 2021.
The current price behavior near the upper range suggests a possible retest of the wedge ceiling. However, technical confirmation will depend on a monthly close above the descending green line. Until then, the asset remains inside the defined consolidation structure.
