After closely tracking Dogecoin’s 30-minute chart, one thing has become clear: selling pressure remains dominant.
From a technical perspective, Dogecoin is nearing the completion of a defined price fluctuation range—a tight zone where the market is gathering energy before its next decisive move.
At this stage, the coin is sitting right at the crossroads: a breakout beyond this key level will determine whether the next move is an aggressive upswing or a renewed wave of decline.
📉 Elliott Wave Perspective
Zooming out, this latest dip represents the fifth sub-wave of the third major wave in an ongoing larger bearish structure.
Historically, the third wave of any downtrend tends to be the most powerful, often fueled by heavy selling momentum—and that’s exactly what’s visible here.
This wave structure suggests that the bearish impulse remains strong and persistent, with previous declines already confirming consistent downward pressure.
📊 Technical Setup
Structurally, the current price range resembles a compression pattern—a brief consolidation before continuation.
Given the market’s recent behavior, the bias leans toward further downside unless Dogecoin can hold and bounce from its near-term support zone.
The key signal to watch now is whether price can hold above the lower boundary of this small rebound phase.
If this short-term support fails, it could trigger the next wave of selling, continuing the broader downtrend pattern.
⚠️ Bottom Line
Dogecoin’s chart is in a decisive phase.
While short-term rebounds may occur, the larger technical picture still leans bearish unless a strong breakout invalidates this setup.
In other words — the bears remain in control until proven otherwise.
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Disclaimer: Market commentary only. Not financial advice. Always DYOR before trading.