My technical analysis of the DOGEUSDT charts

DOGEUSDT 1-Day Chart [Adapted from Binance]

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From the 1-day time frame, DOGE seems to have maintained a support level over time. That is indicated by the orange line at the bottom. Whenever it goes up and comes down, it bounces of the support line. However, I made an interesting observation.

DOGE kept having lower highs. So, in a way, it was on a downtrend. The lower highs and the steady support level forms a triangular pattern. One thing about triangular patterns is that towards the end of the triangle, there will always be a breakout.

Eventually, there was a breakout in the upward direction. This breakout was the beginning of an uptrend. There were higher lows and higher highs. You can see that I connected the higher lows to emphasize the uptrend. The uptrend continued until the price got to $0.1, and then it was pushed back down.

I have reason to believe that $0.1 is a major support level as there was a similar downward reversal previously in the chart at that price range. The price is still on its way down, and it has hit the trend line I drew, and I believe it will jump back up, as I indicated with the thick green line.

DOGEUSDT 4-Hour Chart [Adapted from Binance]

From the 4-hour chart, you can see the long period of uptrend. This is probably in line with the bullish condition of the market. The uptrend continued until the same $0.1 price, when the price reversed and began some sort of downward journey. It continued on the downward path until it hit the trend line which I drew by connecting the bottoms. I predict that the price is about to bounce back up.

From this 4-hour chart, we can see the obvious similarities with the 1-day chart. In the 4-hour chart, the downtrend doesn't really look like a steep downtrend. While this is a volatile market, there is a huge tendency of price pushing back up and breaking the resistance of $0.1. Only time will tell.

Note: The content of this article should not be taken as financial advice.