DOGE Faces Pullback After Late-Session Reversal
Dogecoin (DOGE) tested resistance on Tuesday before profit-taking triggered a lower high, signaling a potential short-term slowdown in momentum.
The cryptocurrency briefly broke above $0.1815, with trading volume 96% above average, but a late-session reversal erased most intraday gains. DOGE closed at $0.1824, marking a 3.1% gain, after testing resistance near $0.184. Intraday trading ranged from $0.1769 to $0.1838, as buyers probed the upper channel boundaries.
A potential Bitwise spot DOGE ETF, which could launch within 20 days through automatic approval under Section 8(a) of the Securities Act, remains a positive catalyst. However, Tuesday’s price action was largely driven by technical flows and profit-taking rather than ETF speculation.
Intraday Price Action
DOGE’s rally stalled around 14:00 GMT, with profit-taking driving a 1.1% drop from $0.1842 to $0.1821 on elevated volume of 7.8 million tokens. This briefly breached interim support near $0.1830, disrupting the ascending channel and signaling weakening bullish momentum.
Technical Outlook
DOGE remains supported above $0.1800, though a fall below $0.1820 could trigger further selling. Momentum indicators show signs of fatigue: the RSI fell from 64 to 52, and the MACD is nearing convergence. Buyers continue to defend the $0.1800 level, providing a key short-term support zone.
Key Levels
- Support: $0.1800
- Resistance: $0.1835–$0.1840
- Downside risk: $0.1760 if support fails
Analysts note that while ETF news offers long-term bullish potential, short-term price behavior is primarily influenced by technical positioning and profit-taking from recent whale accumulation.
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