DOGE Flashes Buy Signal, Faces Resistance Test At $0.2312

On the hourly chart, we see a “9” buy signal, suggesting DOGE might be turning around its short-term trend.

The change to a bull market is confirmed with a breakout above this level when volume is high.

With prices up, people should still have a cautious approach, as the market seems uncertain.

Short-term bullish momentum may be coming for Dogecoin (DOGE) based on a technical reading. Currently, the asset is priced at $0.2236 after a slight fall of 3.0% during the past day. Despite the downturn, chart data suggests that a shift in sentiment may be underway, as the TD Sequential indicator registers a buying opportunity on the hourly chart.

DOGE Eyes Rebound on TD Buy Signal

DOGE’s recent price movement has been marked by a slow descent from its weekly high, with support forming near the $0.2219 mark. Resistance is visible at $0.2312, offering a narrow range for short-term traders. The price has bounced slightly off support, indicating that market participants are responding to technical levels even amid broader market hesitation.

One significant technical change is that a TD Sequential “9” buy signal has appeared. It usually shows up when a decline is getting close to completing and a reversal is expected. According to the indicator, there might be a slowdown in bearish momentum, so DOGE could recover if bulls keep their interest.

DOGE Faces Key Test at $0.2312 Amid Cautious Optimism

While the buy signal offers a bullish cue, the overall volume remains subdued, and no major breakout has been confirmed. Analysts note that sustained upward momentum will depend on DOGE’s ability to push past $0.2312 with volume support. If the asset fails to do so, any rebound could remain limited within the current trading band.

Dogecoin’s near-term movements largely depend on the stability of the market as a whole and the reactions of traders to main support and resistance. While the TD Sequential pattern hints at an upward move, traders need to be careful since things are volatile now. A price increase over the resistance might show a stronger trend and a fall under $0.2219 may cancel out the bullish outlook.