Dogecoin’s RSI has broken a descending trendline, reflecting weakening bearish momentum and hinting at a possible short-term price reversal.
Price rebounded from $0.160 support, marking buyers’ confidence return and challenging the short-term downtrend toward the $0.170 resistance level.
On-chain data reveals a liquidity gap between $0.07–$0.12, providing low-resistance zones that could accelerate Dogecoin’s upward price movement.
Dogecoin price behavior is suggesting a potential shift in market momentum. Analysts are closely observing key technical indicators. Market structure and on-chain data provide insight into possible price movement in the short term.
Technical Patterns and RSI Signals
Trader Tardigrade shared insights on Dogecoin’s daily chart, noting a recurring price-RSI pattern. Two major zones marked by black circles show local price bottoms aligned with RSI trendline breaks.
The previous occurrence in June–July saw a rounded bottom form, followed by an RSI breakout that preceded a strong upward rally.Currently, Dogecoin’s price has moved into a familiar demand region, forming tight consolidation bars.
RSI has begun to press against and slightly exceed a descending trendline. This structure mirrors the earlier scenario, suggesting weakening bearish pressure and potential momentum reversal.
https://twitter.com/TATrader_Alan/status/1988887830245122447?s=20
Traders are monitoring whether RSI continues its upward movement above the trendline. A sustained rise could trigger a bullish bounce toward prior resistance levels. However, a failure to maintain RSI strength may cause the setup to lose validity.
Short-Term Price Movements and Rebound Attempts
BitGuru’s analysis of a one-hour DOGE/USDT chart shows a clear downtrend following a high near $0.183. Price has formed lower highs, indicating consistent selling pressure.
The descent led DOGE to a support region around $0.160, where buyers have historically entered.A sharp wick beneath this support may represent a liquidity grab, a pattern often seen before upward price redirection.
https://twitter.com/bitgu_ru/status/1989604815325073497?s=20
Maintaining strength above $0.160 is critical for buyers to continue toward $0.170 could suggest a continuation of bullish momentum.
On-Chain Liquidity and Structural Support
Dogecoin’s UTXO Realized Price Distribution chart indicates a substantial liquidity gap between $0.07 and $0.12. Over 28 billion DOGE were acquired near $0.073, forming strong foundational support.
Above this, a low-resistance zone exists, where coins have rarely moved.This void often results in rapid price movement due to limited sellers in the gap.
A push through this region could accelerate DOGE’s climb until reaching secondary supply clusters. The next meaningful cluster is observed between $0.16 and $0.24, marking potential target levels for traders.
Market participants are watching how DOGE interacts with these structural supports and gaps. The combination of historical accumulation zones and low-resistance gaps may shape near-term price behavior. Active monitoring of these levels is critical for evaluating potential market moves.
The post Dogecoin Eyes $0.17: Early Signs of Rebound Emerge From Strong Support Levels appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
