Dogecoin breaks key trendline near $0.1510, hinting at a potential short-term reversal.
RSI below 30 signals oversold status, with possible bounce from current DOGE levels.
Netflow data shows easing sell pressure, suggesting stabilization after recent DOGE slump.
Dogecoin (DOGE) has shown signs of recovery after dropping to a two-month low during a market-wide selloff. The downturn was linked to investor jitters following an escalation in geopolitical tensions between the United States and Iran.
Despite a weekly loss of over 14%, the token has bounced from the key $0.15 support level. A recent break of a short-term downtrend on the hourly chart now has analysts watching for a potential shift in market momentum.
Geopolitical Tensions Trigger Market Sell-Off
According to market analyst Trader Tardigrade, DOGE has managed to break above a descending trendline on the 1-hour chart. This trendline had consistently rejected price attempts to move higher. The breakout occurred at around $0.1510 and was confirmed by a strong bullish candle, signaling increased buyer interest.
While resistance still looms near $0.1560 and $0.1600, the technical structure has …
The post DOGE Recovers After Hitting 2-Month Low After a Sharp Sell-off Linked to U.S.-Iran News appeared first on Coin Edition.
