Key Highlights
- DOGE pushed through critical resistance at $0.0924 with trading volume 176% above average, establishing it as new support.
- Price action shows consolidation between $0.0940 and $0.0945 with ascending lows developing post-breakout.
- Immediate resistance targets sit at $0.0955–$0.0960; losing $0.0924 would invalidate the bullish structure.
- The 2-week RSI for Dogecoin has reached its most oversold reading since the coin’s creation.
- Technical analysts project a potential bounce toward $0.12 from current oversold conditions, with extended targets around $0.30.
Dogecoin climbed approximately 5% following a decisive break above resistance that had rejected earlier upside attempts throughout the trading session. The surge carried DOGE from approximately $0.0926 to nearly $0.0950 before consolidating in a narrow channel between $0.0940 and $0.0945.
The breach at $0.0924 occurred on 749 million in volume, registering 176% above normal baseline activity. This price point has effectively converted from a ceiling into near-term floor support.
Ascending lows emerged throughout the consolidation period, a pattern that market participants generally interpret as evidence of buyer support protecting the breakout area.
Current open interest levels remain elevated though not excessive, indicating modest leverage deployment rather than an overcrowded positioning scenario.
Market participants are monitoring $0.0940 as the critical threshold. Sustained price action above this mark keeps the near-term technical picture aligned with upside momentum toward $0.0955–$0.0960.
A reversal beneath $0.0924 would indicate breakout failure and potentially trigger a retreat into the previous consolidation zone.
Two-Week RSI Touches Historic Floor
Meanwhile, cryptocurrency analyst Cryptollica highlighted that Dogecoin’s 2-week Relative Strength Index has declined to its lowest measurement across 12 years of trading history. The analyst characterized it as reaching the “absolute oscillator floor.”
The RSI indicator has descended to the 34 level on the bi-weekly timeframe. Cryptollica observed that present downside momentum registers as mathematically less intense than readings during the 2015 bear cycle and the March 2020 pandemic-driven collapse.
According to the analyst, selling exhaustion appears complete at present price levels, with DOGE compressing to a structural floor that historically has preceded significant upward expansions.
Cryptollica’s extended timeframe analysis projects a potential trading corridor between a median objective of $0.30 and an elevated target of $1.30, identifying a possible bullish reversal timeframe extending through July 2026.
Recovery Scenario Takes Shape
Analyst Trader Tardigrade similarly observed that Dogecoin has recovered from RSI oversold territory. His technical chart suggests a possible recovery move toward $0.12.
DOGE underwent multiple hours of price compression between $0.090 and $0.0927 preceding the breakout sequence. This consolidation phase appeared to accumulate the momentum that fueled the subsequent advance.
As of the latest data, DOGE was changing hands near $0.0944, maintaining position above the $0.0940 support threshold with the pattern of higher lows remaining intact.
