Dogecoin failed twice at $0.15 resistance, triggering liquidations and testing critical support. Here's what the technicals reveal about momentum and risk.
Dogecoin Tests Critical Support After Double Rejection
Dogecoin's price action over the past few weeks tells a story that's becoming harder to ignore. After failing to break above $0.15 for the second time, the memecoin found itself caught in a technical squeeze that triggered significant liquidation events — the kind that don't just shake out weak hands, but often signal broader momentum shifts.
What stood out to me wasn't just the rejection itself, but the context around it. Double tops are rarely coincidental. When a price tests the same resistance level twice and gets turned away both times, it usually means the buyers who showed up the first time aren't coming back with the same conviction. That's a behavioral signal, not just a chart pattern.
The $0.129 level now becomes a critical marker. Not because it's a magic number, but because it represents where support has historically absorbed selling pressure. If DOGE breaks below that zone cleanly, the next area of substantial buyer interest sits considerably lower — and the psychological damage from breaking a multi-test support can be harder to recover from than people expect.
The liquidation cascades that followed the second rejection add another layer. Leveraged positions getting wiped out creates forced selling, which distorts natural price discovery. But it also reveals something: there were enough traders positioned for a breakout that their exits became market-moving events. That tells you sentiment had gotten ahead of structure.
This isn't happening in isolation, either. Broader altcoin weakness and risk-off flows suggest DOGE's struggle at resistance is part of a wider pattern. When momentum fades across the board, coins with strong community support but weak fundamental catalysts tend to feel it first.
The question now isn't whether DOGE can reclaim $0.15 — it's whether $0.129 holds under pressure. Price will tell you what it wants to do. Volume and behavior at support will tell you if anyone's willing to defend it.
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