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Dogecoin’s each day chart, revealed by the pseudonymous dealer Cantonese Cat on X Wednesday, hints that the meme-coin could also be stirring after a months-long down-draft. At 02:26 UTC the TradingView snapshot captured DOGE altering arms at $0.16979, fractionally decrease on the session, whereas the 14-period relative-strength index sat at 35.72, simply north of classical oversold territory.
Dogecoin Prints Bullish Divergence
Essentially the most hanging characteristic of the graphic is a sequence of normal bullish divergences—value units progressively decrease lows even because the RSI traces greater troughs. Cantonese Cat illustrates three such inflection factors: the primary in August 2024, the second in March and April 2025 and the newest in mid-June.
Traditionally, the primary sign preceded the parabolic autumn rally that vaulted DOGE from the high-$0.05 space to an intraday peak simply shy of $0.23, an almost 300% advance. The March divergence ushered in a one hundred pc rebound again to the $0.26 zone, a former help now appearing as overhead resistance.
Associated Studying
“DOGE each day – Bullish divergence with RSI,” Cantonese Cat wrote in his put up, letting the annotated arrows communicate louder than prose. A schematic inserted on the right-hand facet of the chart underlines the textbook definition: within the highlighted quadrant, value slopes downward whereas momentum slopes upward, a configuration usually interpreted as patrons quietly absorbing provide.
Descending Channel And Key Assist Line
The present structural context lends weight to the sign. Since topping out in November above $0.48, value is retracing inside a descending channel. Inside that broader channel, Dogecoin is now retesting a former down-sloping resistance line—which supplied stiff resistance all through March and April this yr—that it lastly broke in early Might and is now appearing as essential help close to $0.163.
Just under this back-test sits the multi-year ascending trendline which now sits near $0.142. Ought to each of these ranges falter, the true decrease boundary of the descending channel waits a fraction decrease round $0.139, giving bulls solely a slim buffer of roughly three cents to defend.
Associated Studying
From a Fibonacci perspective, the 0.786 retracement at $0.1826—coupled with the 20- and 50-day exponential transferring averages in addition to the channel midline at $0.172—kinds the primary ceiling that have to be cleared to shift near-term momentum. A breakout above that space would expose the 0.618 degree at $0.247 and the 100-day EMA. Successive hurdles then stack on the 0.5 retracement ($0.292), the 0.382 ($0.338), and the 0.236 ($0.3939), every equivalent to prior congestion zones throughout the winter advance.
Quantity has begun to taper as value approaches help, whereas the 14-period RSI stays anchored within the mid-30s—nonetheless technically oversold, however displaying a slight uptick that mirrors the bullish divergence Cantonese Cat flagged. For bears, a decisive each day shut beneath the multi-year trendline would invalidate that divergence setup and sure drive DOGE towards the horizontal liquidity band between $0.135 and $0.13, with a final capitulation goal round $0.10—web site of final October’s base.
Featured picture created with DALL.E, chart from TradingView.com
