Dogecoin is trading around $0.1232, showing weakness after repeated rejections at the $0.125–$0.126 resistance zone. The price attempted a recovery but failed to sustain upward momentum, leading to a gradual pullback as selling pressure increased. With lower highs forming and support being tested near $0.122. DOGE remains in a short-term bearish consolidation, signaling caution until a clear directional move emerges.
Dogecoin is facing persistent pressure, down 16% over the past 7 days and 7.41% over the past 30 days. Despite this, the coin remains heavily traded, with a 24-hour trading volume of $1.25 billion, up over 36%.
Dogecoin Confirms First Breakout After Bullish Divergence Signal
On the 4-hour timeframe chart, Dogecoin shows its first confirmed breakout following a bullish divergence, as highlighted by analyst Trader Tardigrade. Price had been trending lower from the $0.14 region toward the $0.12 area, forming lower lows while momentum began to improve. This bullish divergence signaled a fading of selling pressure, and the recent strong move above the descending trendline near $0.124–$0.125 marks the initial breakout, indicating that buyers are stepping back in.
Momentum has also turned higher from oversold levels, reinforcing the bullish signal. With DOGE now trading around $0.125–$0.127, this breakout opens the door for a recovery toward the next resistance zone near $0.13–$0.135. This upside scenario remains valid as long as the price holds above the former descending trendline. According to Trader Tardigrade, this setup typically signals an early stage of a potential trend reversal rather than a short-lived bounce.
Dogecoin Price Faces Ongoing Downtrend as Momentum Indicators Remain Weak
On the 1-day timeframe, Dogecoin remains in a broader downtrend, marked by a sequence of lower highs and lower lows since the previous peak. Price is currently trading around the $0.12–$0.13 zone, showing weak recovery attempts after each bounce. While there was a brief push higher at the start of 2026, selling pressure quickly returned, keeping DOGE capped below the $0.15 area and signaling that bearish momentum still dominates the overall structure.
Looking at the indicators, the MACD is hovering below the zero line with the signal and MACD lines curling downward, suggesting fading bullish momentum and a potential continuation of consolidation or downside pressure. The Awesome Oscillator (AO) remains in negative territory, although its histogram shows reduced bearish strength compared to earlier periods.
Source: https://coinpaper.com/13935/dogecoin-price-struggles-near-0-123-as-short-term-breakout-clashes-with-broader-downtrend
