Is Selling Pressure Finally Fading?
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Altcoin Analysis Dogecoin is showing early signs of stabilization after months of steady downside pressure, with price hovering around the $0.13 area. While short-term gains have emerged over the past 24 hours, Dogecoin continues to lag some major altcoins on a weekly basis, reflecting cautious sentiment rather than renewed speculation. Key Takeaways Dogecoin is holding near $0.13 as downside momentum shows signs of fading. Short-term charts point to a potential rebound, but key support must hold. Broader market sentiment will likely determine whether any bounce can extend. On the daily chart, the broader trend remains bearish following the sharp pullback from late-year highs near $0.25. However, recent price action has begun to compress into a narrower range, often interpreted as a sign that selling pressure is weakening rather than accelerating. Daily indicators hint at fading downside momentum Momentum signals are starting to shift away from outright bearish conditions. The daily RSI has climbed back into the mid-40s after spending time near oversold levels, suggesting selling momentum is easing without triggering overbought conditions. This positioning leaves room for further upside if buyers step in. At the same time, the MACD histogram is flattening, with early signs that bearish momentum is losing control. While this does not yet confirm a trend reversal, it often precedes either consolidation or a short-term rebound. Short-term charts point to a possible reversal setup On lower timeframes, technical analysts are highlighting a completed inverse head-and-shoulders pattern on the 2-hour chart, forming around the $0.13 region. This structure is commonly viewed as a bullish reversal pattern when it appears after extended declines. A sustained hold above the neckline could allow Dogecoin to test higher resistance levels near $0.14 and $0.15. Failure to maintain this structure, however, would likely return the focus to range-bound trading rather than a directional…
