- Dogecoin has already recovered several times around a long-term rising trendline, which proves that the structure is well supported.
- RSI levels at the 34 mark always stabilize, indicating a resurgence of interest in buying at technical levels.
- Rebounds in history of this arrangement can be followed by an upswing, which supports the possibility of bullishness in case of support.
Dogecoin (DOGE) recently demonstrated some signs of a new activity on the 12-hour chart, returning in a sharp reversal to a properly constructed ascending trendline. The cryptocurrency has exploited this trendline several times since mid-June, and it has continued to use it as support. The most recent touch was another upward bounce of the price off of this line, which strengthened this point as a structural support level.
Accompanying this price reaction, the Relative Strength Index (RSI) also bounced from a horizontal support line near the lower boundary of the chart. This dual interaction with trendline and RSI support zones suggests renewed strength at this specific technical region. Historically, similar rebounds from this configuration have preceded upward moves in DOGE’s price.
As of today Doge was trading at $0.2315 with a 1.0% price increase as the support held at $0.2254 while resistance at $0.2323 according to Coingecko.
Trendline Support Holds Firm Under Selling Pressure
The ascending trendline, stretching from early July through late September, has now acted as support at least five times. Every one of these touches has been answered to the upside, and the latest one was the one that was indicated with a green arrow on the chart.
This trend line is an upward sloping trend indicating a long-term bullish formation which has not been broken by numerous severe retreats.
Markedly, DOGE retested this line in late September and soon recovered. Price remained above $0.058 during this phase, respecting the support boundary precisely. Historical behavior around this trendline suggests that the market continues to view it as a strong level of technical support.
RSI Finds Stability Near Prior Support Zone
Alongside the trendline, the RSI indicator has formed a consistent support base near the 34 level. During recent dips, the RSI has bounced multiple times from this horizontal line. This is visible through green arrows placed directly above the RSI support in the chart.
In the latest move, RSI again rebounded from the same horizontal support, coinciding with DOGE’s price reaction at the trendline. This coordinated bounce adds credibility to the zone as a combined technical floor. It also reflects an increase in buying activity whenever RSI reaches this area.
Technical Structure Suggests Buyers Still Active
DOGE’s current price action suggests continued respect for both the ascending price trendline and the RSI floor. With each touch of these supports followed by a recovery, it points to continued trader interest at these levels.
If this behavior continues, further bounces from these supports may influence short-term direction. However, any violation of these support levels could invalidate the pattern. For now, the structure remains active.
