DOGE has moved back into a bullish short-term setup after reclaiming a key neckline following a V-shaped recovery. Alpha Crypto Signal said the chart reflects a reversal of selling pressure that had persisted for weeks, with buyers regaining control after the token broke above a descending trendline. Attention is now turning to whether the move can extend toward the $0.0780 area.
Break above descending trendline changed the short-term setup
The recovery picked up after DOGE pushed through a descending trendline that had rejected earlier rebound attempts during the decline. Once that barrier gave way, price reclaimed its neckline, turning a former resistance zone into the main support area. According to Alpha Crypto Signal, bullish conditions stay intact as long as DOGE holds that reclaimed level. A measured retest, if it comes, could add confidence to the breakout structure.
Market structure has also improved. DOGE is now showing higher highs and higher lows, a pattern often linked to stronger buyer participation during a recovery phase. The token is still trading above major moving averages, and the shorter moving average has started to slope upward again. That combination suggests bearish momentum has eased. It is a technical shift, and traders are watching it closely.
Volume supports the rebound, but speculative excess is absent
Volume has backed the recent advance, though not at an extreme level. The source noted that buying activity increased after the market reached its local bottom, yet participation remains below speculative peaks. In practice, that points to a recovery with support from trading activity, without the kind of overheated conditions that often accompany sharp momentum spikes.
CoinMarketCap’s 24-hour chart showed a steady intraday climb, with DOGE trading around $0.0767 during the reported session. The token was up roughly 2% over 24 hours. The rally reached toward the $0.0780 region before easing back, making that level the immediate resistance on the chart. The pullback that followed came after buyers tested that area and some profit-taking appeared.
Support at $0.0760 remains central to the bullish case
Near-term support is currently marked between $0.0760 and $0.0762. Below that, the earlier trading base near $0.0750 stands as a stronger support zone. If DOGE loses those levels, the latest bullish momentum would weaken. If support keeps holding, the market is likely to stay focused on another attempt at the $0.0780 resistance band.
During the period covered in the report, DOGE’s market capitalization stood at about $11.88 billion. Its V/M ratio was around 6.24%, a reading the source described as consistent with healthy trading volume. That suggests participation is strong enough to support the rebound, while still falling short of signaling excessive enthusiasm.