Dogecoin’s multi-year recovery trend is under pressure as the price falls below a key ascending support and rests at a historic horizontal level, according to a new chart from trader and analyst Rekt Capital.
Dogecoin is inches away from a bear market
In an
The chart tracks Dogecoin from the 2021 crash top through the 2022-2023 bear market and subsequent recovery. An ascending trendline built from bear market lows currently runs just below the $0.18 region and has defined what Rekt Capital calls DOGE’s “multi-year technical uptrend.”
However, the latest monthly candle shows Dogecoin trading around $0.16355, below that trendline and pushing against a horizontal support level near $0.159. That horizontal area is not random. As for the monthly time frame, it has repeatedly turned the tables between resistance and support over the past two years.
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From May to October 2024, the ~$0.159–0.16 band acted as a ceiling, with upside attempts repeatedly rejected. The eventual breakout above this level in October 2024 preceded an explosive move: Dogecoin’s price nearly tripled from around $0.16 to a December high of $0.4843.
In 2025, the same zone then became a crucial pillar. Between March and July, the monthly candles showed downward wicks that penetrated below the month, but the closes were repeatedly held above the level, confirming that it is an important structural floor.
What to watch now
That history makes the current retest so important. With about half of the month left, the November red candle has already lost the rising trendline near $0.18 and is now depending on the long-standing horizontal area of $0.159–0.16 to stop any more downtrend. On a monthly chart, it’s not just about the excursion within the month, but also where the candle closes.
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If DOGE can regain and close the trendline, the pattern of higher lows that has defined the multi-year uptrend would remain largely intact. In contrast, a monthly close decisively below the horizontal level would mean that both rising support and this historically crucial price floor have failed, significantly weakening the macro-bullish structure.
For now, Dogecoin sits right on that line in the sand. As Rekt Capital put it, DOGE “must protect its multi-year technical uptrend heading into December” if it wants to avoid sliding back into a bear market profile.
At the time of writing, DOGE was trading at $0.1626.
Featured image created with DALL.E, chart from TradingView.com