Dogecoin Faces Heavy Selling Pressure but Technical Setup Hints at Possible $1 Surge

The popular meme-coin Dogecoin (DOGE) is under mounting stress after a 30% drop from its September highs, yet a contrarian technical setup suggests that a rebound to the $1 level might still be in ￰0￱ Reading: Shiba Inu Might Be ‘Dead And Sleeping’, But Not For Long, Crypto Expert Says While the current environment is dominated by selling pressure and low institutional interest, some chart patterns deserve a closer ￰1￱ Crash to Compression: Dogecoin Under Pressure Dogecoin’s price tumbled from around $0.3066 to approximately $0.198, marking a dramatic 30% decline that has shaken short-term ￰2￱ the technical front, DOGE broke below a consolidating upward wedge, and a “death cross” is looming as the 50-day EMA approaches a crossover beneath the 200-day.

DOGE's price moving sideways on the daily chart.), while a breakdown under $0.0570 could open the door to an extreme risk scenario (-90%) riding on a bearish flag on the weekly ￰3￱ to the pressure, the recently-launched DOGE ETF saw only around $30.7 million in assets, far below rival products and suggesting weak institutional ￰4￱ steep 1.5% expense ratio further dampens its ￰5￱ Setup: Danger Ahead, But Also Hope Despite the gloom, Dogecoin exhibits some intriguing longer-term patterns that hint at the possibility of ￰6￱ one hand, momentum indicators, like MACD and MFI, point to weakening buying strength and growing dominance of ￰7￱ supports the near-term bearish ￰8￱ the other hand, a long-term ascending channel since 2021 shows DOGE trading near its lower boundary, with the Stochastic RSI at historically low levels, similar to prior ￰9￱ highlight that if DOGE can hold key support around $0.19 and break above resistance near $0.30, the path toward $0.50–$1 becomes more plausible.

A key resistance point lies near $0.21, often referred to as a “supply wall” due to heavy prior ￰10￱ time DOGE approaches the resistance level, selling pressure typically increases, causing repeated rejections. Thus, for DOGE to flip the narrative, a clean breakout above $0.21 coupled with volume would be ￰11￱ Comes Next? Cautiously Optimistic Outlook In the short term, Dogecoin faces more likely downside or sideways action unless fresh buyer momentum ￰12￱ if support holds and a breakout occurs, the long-term technical structure suggests upside potential toward the $1 ￰13￱ Reading: XRP Price At $1,000, Solana To $1,000, And Cardano At $100? Bull Run Predictions Catch Attention The scenario isn’t guaranteed, it requires a confirmed reversal, rising volume, and a shift in ￰14￱ traders using the 15-minute and 5-minute timeframes (as you focus on), this means watching for a higher-timeframe close above $0.30, plus intra-day volume ￰15￱ that, caution remains ￰16￱ image from ChatGPT, DOGEUSD chart from Tradingview