Dogecoin Price Analysis: DOGE Eyes Rebound After Multi-Year Trendline Break Tests $0.15 Floor
Dogecoin broke a multi-year ascending trendline, testing critical $0.1520 support amid institutional selling pressure.Summary
Dogecoin's technical structure has weakened significantly after breaking below its multi-month ascending channel support at $0.1620, a move confirmed by institutional-grade volume. This breakdown marks the first time DOGE has fallen below its multi-year rising trendline since 2021, placing immense importance on the horizontal support at $0.1520. Despite the bearish chart structure, large whale cohorts accumulated 4.72 billion DOGE during the decline, suggesting a potential divergence. For bulls to stabilize the trend, reclaiming $0.159–$0.160 is essential; failure below $0.1520 could quickly lead to $0.150 and potentially $0.120, while broader market weakness driven by Bitcoin's death cross remains a major external headwind.
(Source：CoinDesk)