Dogecoin Breaks Descending Trendline and Ends Lower Highs Streak with Bullish Confirmation

Dogecoin breaks trendline and forms higher high, ending lower highs pattern since July 22.

On-chain volume rises 15% in a week, reflecting renewed trader interest after breakout.

DOGE eyes $0.29 as price stays above 20- and 50-day SMAs but under short-term resistance.

Dogecoin (DOGE) has moved above a descending resistance trendline on the 1-hour chart, indicating a shift in short-term momentum. The breakout was confirmed as DOGE established a new higher high (HH), ending the pattern of lower highs that had persisted since July 22. At the time of writing, Dogecoin was trading at $0.2364.

Trendline Breakout Confirms Bullish Shift

According to analysis prepared by Trader Tardigrade, the breakout above the trendline took place on July 26, following several failed attempts earlier in the week. Price had been forming lower highs consistently before breaking above resistance, which now acts as a support level.

The move was accompanied by increased buying pressure, confirming a bullish shift in the short-term structure. The price broke above the previous lower high, changing the trend direction and setting the tone for potential upside. This development also marks the end of a three-day consolidation that followed Dogecoin’s retracement to $0.23 on July 25.

Source: BitGuru(X)

On-chain activity has increased alongside price recovery. According to data from BitGuru, Dogecoin saw a 15% increase in transaction volume over the past seven days. This shows that traders are responding to the trendline breakout with renewed interest.

Indicators Show Mixed Signals as Market Stabilizes

The trendline breakout indicates that the trend is bullish, but the technical denominations continue to show that consolidation can still be active. The Relative Strength Index (RSI) is at 60.46, which keeps DOGE in neutral territory. This suggests that there is still room for upward movement.

MACD histogram indicates slight weakness with the reading of -0.0005, but moving averages still support the bullish perspective. Dogecoin is also trading above the 20 and 50 SMA indicators which shows medium-term bullishness.

However, it is still below the 7-day SMA, which is a sign of current short term price resistance. Market analysts are watching the $0.25–$0.27 range closely. If DOGE breaks and holds above this range, price could test resistance at $0.29 in the near term.

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