Dogecoin’s latest attempt to break higher has turned into a rejection at a technically important level, putting the memecoin back on watch for a retest of lower support. Crypto analyst Ali Martinez, posting to X under the handle @alicharts, said DOGE’s failed move above descending triangle resistance on the 12-hour chart shifts attention back to $0.088.
Dogecoin Bulls Lose Momentum After Failed Breakout
His framework was straightforward. A clean break above resistance near $0.095, he said, could open the way for a move toward $0.14. But the opposite side of the range was just as important. “Breaking past resistance at $0.095 could result in a rally to $0.14. However, losing $0.088 as support could result in a move to $0.07,” Martinez said.
He described that level in unusually definitive terms. “We are now likely heading for a retest of the triangle’s floor (the X-axis) at $0.088. This is the definitive line in the sand. If it holds, we reset and try again. If it breaks, the bears take control.”
For now, the chart has moved from breakout anticipation to support defense. The earlier bullish trigger at $0.095 remains relevant, but only if DOGE can first stabilize above the base of the triangle. Until then, the market’s focus has narrowed to one price: $0.088.
At press time, DOGE traded at $0.09684.
