Over the past week, Dogecoin has shown a gradual bearish trend, starting from around $0.252 and sliding down to approximately $0.18.
The price has struggled to sustain upward momentum, reflecting persistent selling pressure and a lack of strong buying volume.
This represents a decline of about 28% over the week, indicating weakening market sentiment and continued downward pressure in the short term.
As of today, the Memecoin has faced rejection near $0.1959, triggering a steady decline as sellers gained momentum. The price slipped to around $0.188, indicating persistent bearish pressure in the market.
As of this writing, Dogecoin is exchanging hands at around $0.1887 with a 24-hour loss of 3.79%.
Source: CoinMarketCap
Recent data from analyst Ali Martinez, Dogecoin is holding firmly above a crucial support level at $0.19.
The support has proven strong in past pullbacks, where price rebounds signaled renewed buying pressure.
If DOGE stays above this level, traders may gain more confidence, pushing momentum higher. However, a breakdown below $0.19 could invite increased selling and lead to a deeper correction.
Martinez explains that Dogecoin’s chart continues to follow an ascending pattern, reflecting steady accumulation and growing optimism among investors.
The setup suggests that holding this key level could spark a bullish continuation toward the next major target at $0.33.
A clean breakout above these barriers $0.25 and $0.27, would likely confirm Dogecoin’s strength, signaling that the market is ready for a sustained rally and potentially drawing in more bullish traders.
Dogecoin readies for breakout from cup and handle pattern
According to analyst EᴛʜᴇʀNᴀꜱʏᴏɴᴀL, Dogecoin’s chart is displaying a textbook Cup and Handle pattern, a classic bullish continuation setup.
The “cup” section reflects a rounded bottom formed after an extended consolidation phase, showing gradual accumulation and reduced selling pressure.
This indicates that market sentiment is shifting from bearish to neutral, with buyers beginning to step back in.
The symmetry and depth of the cup suggest strong structural support forming at the lower levels.
Source: X
The “handle” portion, marked by a mild pullback and tighter consolidation, represents the final phase before a breakout.
Once Dogecoin decisively breaks above the upper resistance of the handle, it could trigger a significant upward rally, with long-term projections pointing to $0.4603 – $0.7198 before the end of the year.Â
Such a breakout typically confirms the pattern and often leads to a major bullish move, aligning with the projection illustrated on the chart.