Key Insights:
- Dogecoin faces resistance at $0.235, with a breakout potentially pushing price toward the $0.25 resistance zone.
- An ascending triangle on the 2-hour chart shows higher lows pressing against horizontal resistance near $0.238.
- RSI below 50 and flat MACD confirm weak momentum, keeping DOGE range-bound between $0.22–$0.235.
Dogecoin (DOGE) was trading at $0.2298 with a 24-hour trading volume of $2.27 billion. The price is down 0.36% in the past 24 hours and has lost 5% over the past week. The token continues to move within a narrow range, showing a lack of decisive momentum from either buyers or sellers.
The market has seen a modest recovery from the $0.22 zone, but resistance above $0.235 continues to hold. Price movement has been mostly sideways, reflecting hesitation among market participants as they await confirmation of the next trend.
Buy and Sell Walls Define Short-Term Range
On-chain and order book analysis show a buy wall near $0.22–0.223 and a sell wall at $0.235.
According to CW,
“$DOGE has reached a buy wall. Also, the sell wall exists at $0.235. If this wall is broken, the next wall is near $0.25.”
This setup leaves DOGE trapped between clear support and resistance levels. If buyers fail to defend the buy wall, price could revisit lower levels. On the other hand, a breakout above $0.235 would likely bring DOGE closer to the next resistance near $0.25, where heavier selling pressure is expected.
Ascending Triangle Emerges on Lower Time Frame
On the 2-hour chart, DOGE is forming an ascending triangle. The pattern is marked by a rising trendline of higher lows while price continues to test the same resistance zone near $0.237–0.238. This pattern often suggests building buyer pressure.
Trader Tardigrade explained,
“#Dogecoin is forming an Ascending Triangle on the LTF.”
A confirmed breakout above $0.238 with volume could open the way toward $0.243–$0.245. Until then, price may continue to consolidate within the triangle, with interim support near $0.233–0.234.
Indicators Reflect Weak Momentum
Technical indicators show that DOGE is in a consolidation phase. On the 4-hour chart, the RSI stands at 43.72, remaining below the neutral 50 mark. This suggests weak momentum leaning slightly bearish, though not in oversold territory.
The MACD line is marginally above the signal line but close to zero, showing limited strength from either side. The histogram is flat, confirming the lack of momentum. Without stronger volume, DOGE is likely to remain range-bound between $0.22 and $0.235.
DOGE’s price action suggests that the next decisive move will depend on whether the $0.235 sell wall breaks. A confirmed breakout could put the $0.25 target within reach, while failure may keep the token locked in its current range.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/doge-hits-buy-wall-is-0-25-next-target/