Dogecoin (DOGE) is trading near $0.09994, showing relative stability after recent gains. Analysts highlight a completed Cup pattern on its chart, signaling underlying strength and a potential for upward movement if key resistance levels are breached. Technical indicators, including a rising RSI and improving MACD, show early signs of recovering momentum despite a dip in trading volume and open interest.
Dogecoin (DOGE) traded at $0.09994 on February 18, marking a slight daily decline but holding weekly gains over 11%. Data shows its 24-hour trading volume decreased to approximately $883 million. Analysts note the cryptocurrency has formed a clean Cup pattern, which according to Trader Tardigrade, began near $0.08 and indicates underlying trend strength.
“DOGE has successfully completed a clean Cup formation,” the analyst stated. A breakout above the Handle resistance could pave the way for higher prices. Another analyst, BitGuru, mentioned DOGE is at the end of a long consolidation phase after a deep liquidity sweep.
Futures market data reveals a decline in activity, with open interest down 2.68% to $1.12 billion. According to CoinGlass, the funding rate remains slightly negative. Technically, the Relative Strength Index (RSI) sits at 43.21, rising from lower levels and moving out of oversold territory.
The Moving Average Convergence Divergence (MACD) also shows early signs of improvement. The MACD line is positioned at 0.00164 while the signal line is at -0.00552. Market observers are watching for a confirmed breakout from the current consolidation to signal the next potential price direction.
