Dogecoin

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Rekt

<p>The price of Dogecoin (DOGE) has been trading in a descending channel since October 2022, forming support and resistance levels for over a year now. DOGE recently found support around $0.05, which was the last channel’s bottom. Now it faces resistance at around $0.07 at the top of the channel.</p>
<p><a href="https://twitter.com/rektcapital/status/1720387931959861667?t=RytZTZ-hNZ2x6r0UwRXvKg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">According</a> to crypto analyst Rekt Capital, DOGE saw some <em>“buy-the-dip”</em> behavior over the past week which took the price back to the $0.07 resistance level. However, there has been no strong rejection and continued downside for DOGE yet.</p>
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<h2 class="wp-block-heading" id="breakout-needs-confirmatory-weekly-close">Breakout Needs Confirmatory Weekly Close</h2>
<p>The most important signal to watch for is a weekly close above the descending channel top, which would confirm a technical breakout for DOGE. A break above the channel resistance could trigger massive buys from traders, pushing the price higher.</p>
<p>DOGE has forged lower lows along the channel bottom over the past year. A breakout above the channel top would show a decisive shift in market structure and upside momentum.</p>
<h2 class="wp-block-heading" id="buyers-looking-for-confirmation">Buyers Looking for Confirmation</h2>
<p>It seems DOGE buyers remain interested but are waiting for a confirmed break above $0.07 before entering large positions. The weekly close will give traders added confidence in the breakout’s validity.</p>
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<p>If DOGE can close the week above $0.07, there is open air above until horizontal resistance around $0.10. A close above the channel could spark a strong rally toward that next overhead resistance level.</p>
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<p>The post <a href="https://captainaltcoin.com/a-weekly-close-above-this-channel-top-will-trigger-massive-buys-for-dogecoin-doge/" rel="noopener noreferrer nofollow">A Weekly Close Above This Channel Top Will Trigger Massive Buys for Dogecoin (DOGE)</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

A Weekly Close Above This Channel Top Will Trigger Massive Buys for Dogecoin (DOGE)

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