Dogecoin (DOGE) Rises 6% After Hitting $0.1650 Support

On March 10, 2025, Dogecoin (DOGE) experienced a significant price recovery following a sharp decline to $0.1650. The cryptocurrency's price trend had been characterized by a persistent downward movement, forming a downward channel with successive lower highs and lower lows. This bearish trend resulted in a swift price decrease, reaching its support level at approximately $0.1650. However, DOGE has since shown signs of recovery, encountering resistance at $0.1750. The current price action has formed an ascending triangle pattern, indicating potential for either a future breakout or a rejection move.

The downward trend in DOGE's price began after it broke through a resistance area ranging from $0.1800 to $0.1850. Sellers gained dominance, and bearish pressure continued as traders attempted to recover their positions. The price established $0.1650 as its initial support point, which has since controlled current price movements. The downward price movement ended at $0.1750, where DOGE currently faces resistance in its upward trajectory.

Market participants are closely monitoring the Relative Strength Index (RSI) to detect trend exhaustion signals and changes in market sentiment. The RSI entered exponentially depressed zones multiple times before the downtrend discontinuation, indicating intense selling pressure that might precede an upcoming increase. Currently, the RSI stands at 52.12, above the neutral range, suggesting that buying pressure is rising but has not yet reached dominance.

Market sentiment changes have also been visible through important crossover signals from the MACD indicator. Several death crosses emerged during the downward trend, strengthening the overall negative market sentiment. However, when the price reached its lowest level, a golden cross formed, signaling possible market changes. Buyers took control following this period, and DOGE began moving upward.

DOGE's price today faces a crucial milestone as it maintains a tight range below key resistance levels. If bulls succeed in driving the price past $0.1750, it could generate additional upward movement, potentially reaching $0.1800 and $0.1850. However, dual indicators on the RSI and MACD display conflicting signals, requiring a price breakout or breakdown for traders to identify the forthcoming significant price direction. A downturn for DOGE will occur if its