Dogecoin Maintains Trendline Support as RSI Recovery Fuels Bullish Outlook

• Dogecoin rebounded from its ascending trendline near $0.23–$0.24, confirming bulls are strongly defending this critical medium-term support level.
  
• RSI also recovered from horizontal support, aligning price action with momentum reset and boosting the probability of sustained bullish continuation.
  
• Weekly chart shows Dogecoin remains above the 50 EMA at $0.21, while MACD signals weakening momentum but retains bullish bias.

Dogecoin (DOGE) has shown resilience after rebounding from trendline and RSI support, signaling renewed buying strength despite recent market pressure.

Price Holding Above Trendline Support

Dogecoin has been respecting an ascending trendline since June, with each test attracting renewed buying momentum. Recently, DOGE rebounded near the $0.23–$0.24 zone, confirming the trendline’s validity. This level has now become a critical reference point for traders.

Trader Tardigrade (@TATrader_Alan) noted that the rebound reflects aggressive defense by bulls at this support. The confluence of technical strength at this stage strengthens the case for continuation. Maintaining this structure ensures that the broader uptrend remains intact in the medium term.

If momentum continues, the price could approach the $0.30–$0.32 resistance area. A breakout above this key zone would create room for a larger upward extension. However, failure to hold trendline support could shift focus toward $0.20, which remains a strong psychological level.

RSI and Momentum Rebound

Alongside price structure, momentum indicators also support the bullish case. The Relative Strength Index recently rebounded from horizontal support, an area where DOGE has often regained strength. This technical reaction shows alignment between price support and momentum reset.

The RSI recovery suggests that the selling pressure has eased. Historically, such rebounds have provided the base for renewed upward attempts, particularly when aligned with price holding key zones. This dual confirmation increases the probability of continued buying interest.

Market observers point to the large upward arrow on the chart shared by Trader Tardigrade, signaling a possible extension higher. If RSI maintains stability above its base, buyers may retain control over the near-term trajectory.

EMA and MACD Signals

On the weekly timeframe, DOGE trades near $0.23 after a sharp 12% pullback. Despite the correction, price action remains above the 50-period exponential moving average (EMA) at $0.21. This moving average continues to provide structural support to the ongoing uptrend.

A breakdown below the 50 EMA would shift market focus toward a possible bearish turn. For now, holding above this indicator maintains a positive technical bias. Traders closely watch this level for either renewed rebounds or weakness.

The MACD indicator reflects waning momentum. While the MACD line remains above the signal line, the histogram shows shrinking green bars. This development suggests weakening buying strength and signals cautious monitoring for possible trend shifts. Maintaining momentum above the 50 EMA will be essential to sustain bullish conditions in the near term.

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