Dogecoin Shows Resilience As Bearish Channel Forms Amid Market Jitters

HomeNews* Dogecoin showed resilience amid broader economic uncertainty and recent price declines.

• The digital currency traded within a bearish channel, with resistance at $0.236 and support around $0.224.
• Trading volume peaked at 643 million DOGE during a single hour, indicating strong buying activity.
• Dogecoin’s price dropped 6.3% over 24 hours, falling from $0.238 to $0.227.
• The asset entered a consolidation phase between $0.227 and $0.230, with decreased volatility noted after the decline. Dogecoin maintained stability despite ongoing global economic challenges and shifts in trade policy. On the day reported, the digital asset moved within a bearish channel, but investors showed continued interest by purchasing at lower price levels.

• Advertisement - The price of Dogecoin dropped from $0.238 to $0.227 over 24 hours. This represents a decrease of about 6.3%. According to market data, the highest hourly trading volume reached 643 million DOGE, considerably above the average for the day.

Technical analysis revealed that the price faced resistance at $0.236, while buyers established support near $0.224. After initial weakness, Dogecoin found immediate support at $0.227, spurring a rebound in hourly volume to 4.5 million during the afternoon. The coin formed a sequence of “lower highs” and “lower lows,” signaling ongoing selling pressure.

Despite the price drop, Dogecoin settled into a consolidation range between $0.227 and $0.230. This phase showed reduced volatility, meaning the price stabilized and moved within a narrower band after the decline. The concentrated support suggests that investors remain engaged even as the market digests larger economic and policy shifts.

Over the past trading period, notable selling occurred at specific times, particularly at 13:35 and 13:56 UTC, but buyers quickly returned. Volume surges at support levels reflect ongoing demand for Dogecoin, even as broader cryptocurrency markets respond to economic uncertainties.

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