Here’s The Resistance Zone Keeping The Dogecoin Price From Rallying
The post Here’s The Resistance Zone Keeping The Dogecocom. The Dogecoin price has spent the past several days moving through a noticeably weaker phase, falling from the mid-$0. 18 region into a prolonged decline that has kept the price tilted downward. The chart shows a major high forming near $0. 18311 before sellers forced the price into a tight downtrend, but every attempted bounce has turned into another correction. Technical analysis from BitGuru focuses on why this rebound attempt is still weak and what Dogecoin must break above before any meaningful rally can begin. Dogecoin Price Downtrend And Repeated Corrections The structure of Dogecoin’s price action since reaching $0. 183 on November 10 makes the weakness clear. After topping at $0. 18311, Dogecoin slipped into a descending channel, with the downtrend highlighted by lower highs across November 11 and 12. Each time the price tried to push upward, the move stalled at a predictable level, creating another corrective swing. The chart shows this clearly during the November 13 and 14 period, where a modest recovery reached $0. 16598 before sellers regained control. Since then, the price pattern shows that the Dogecoin price has been following a controlled downtrend. The selling pressure is consistent, and every rebound so far has been capped by the same resistance around $0. 166. The momentum has been drifting downward for most of the past week, keeping the Dogecoin price suppressed below this price level. the most recent candles on the chart show Dogecoin attempted another rebound after a drop into the $0. 153 region. BitGuru noted that this bounce is not enough to confirm a reversal, and a stronger recovery will only be confirmed if it breaks above the nearby resistance zone. The current price action in the past few days shows Dogecoin is holding above short-term support, but it has not yet shown the strength required to break out of the.