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DOGE slips by 0.04% as Upward Channel Emerges, Retesting Theory Analyzed

DOGE slips by 0.04% as Upward Channel Emerges, Retesting Theory Analyzed

Bitget-RWA2025/11/10 16:08
By:Bitget-RWA

- DOGE’s price dropped 0.04% in 24 hours but rose 7.2% in 7 days, forming an ascending channel with higher lows at $0.1745–$0.1782. - Technical indicators like RSI and MACD suggest bullish momentum, with RSI near 61 and MACD in positive territory reinforcing upward bias. - Traders monitor $0.1800–$0.1804 support and $0.1838 resistance for potential breakout, while a backtest hypothesis tests MACD Golden-Cross as a buy signal using DOGEUSD or DOGEUSDT tickers.

As of November 10, 2025,

experienced a slight 0.04% decrease over the past day, settling at $0.17915. Over the last week, DOGE climbed 7.2%, but it declined 3.87% in the past month and dropped 43.28% over the previous year. The price action has reflected both upward and downward movements in the short and medium term, with recent consolidation hinting at the formation of an upward-sloping channel. Technical analysis points to the possibility of renewed building, as the current price structure suggests a breakout could be approaching.

DOGE’s price has established a series of higher lows at $0.1745, $0.1761, and $0.1782, outlining an ascending channel that could support a bullish scenario if the pattern persists. The asset is trading above its 20-hour and 50-hour moving averages, which supports the view that short-term momentum is still strong. This technical setup is often seen before a breakout, where a decisive move above resistance could spark a broader rally.

Additional momentum indicators reinforce the outlook for further gains. The RSI has been moving upward, now approaching 61, which signals increasing buying interest. At the same time, the MACD has turned positive, a classic indication that bullish sentiment is gaining traction. Together, these signals suggest that the current upward momentum could be part of a larger trend rather than a brief spike.

The sustainability of this trend depends on how the price behaves near the $0.1800–$0.1804 support range. Market participants are watching this area closely, as holding above these levels could confirm a lasting uptrend. If DOGE manages a daily close above the $0.1838 resistance, it could pave the way for a move toward the $0.1860–$0.1900 zone, which has played a key role in previous DOGE rallies.

On the other hand, if the price fails to stay above current levels, it could retreat to the $0.1740–$0.1750 area. However, evidence of institutional buying suggests that any dips may continue to attract buyers. This dynamic highlights the mixed market sentiment: while retail investors may be hesitant, institutions appear to be positioning for potential long-term appreciation.

Backtest Hypothesis

One possible backtesting approach for DOGE is to use the MACD Golden-Cross as a buy indicator. The MACD (Moving Average Convergence Divergence) is a popular tool for measuring trend direction and momentum. A Golden-Cross occurs when the MACD line moves above the signal line, which is generally seen as a bullish sign.

However, initial efforts to access DOGE’s MACD data with the ticker “DOGEUSD.UDC” led to an internal error, indicating the platform may not recognize this symbol. To proceed, alternative tickers such as DOGEUSD (spot price in USD), DOGEUSDT (the Binance pair), or another compatible symbol should be used.

After confirming the correct ticker, the backtest can be run over a specific period—preferably from January 1, 2022, to the present—to assess whether the MACD Golden-Cross has historically provided reliable buy signals for DOGE. This would involve analyzing the number of successful trades, average holding durations, and overall profitability. Given the current technical picture, a positive backtest result could further support a bullish outlook for DOGE.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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