Dogecoin Returns to Major Support Channel as Traders Eye Next Cycle Surge

Dogecoin tests major support near $0.11 as long bias grows, with short liquidations hitting $3.46M across DOGE markets.

Dogecoin has returned to a major monthly support channel as traders track a possible recovery setup.

DOGE trades near $0.1097 on Coinmarketcap after a recent bounce from the $0.08 to $0.09 range.

Derivatives data also shows stronger long positioning, while short liquidations have led to recent market losses across Binance and OKX.

Dogecoin Returns to Major Monthly Support Channel

Dogecoin has moved back into a major support channel on the monthly chart. Traders are watching this area because DOGE has reacted from similar zones in past market cycles.

The return to this range has brought renewed focus to Dogecoin’s long-term price structure.

The setup is being tracked as DOGE remains above the recent low zone. Analyst Trader Tardigrade described the current range as a buy-the-dip area.

This view is based on DOGE trading near support, not near recent highs.

However, confirmation depends on whether Dogecoin can hold this channel. A clear loss of support may shift attention to lower price levels.

The monthly structure remains important for the next cycle outlook. A strong hold above support may help DOGE build a base for recovery.

Derivatives Data Shows Strong Long Bias

Dogecoin derivatives data shows that traders are leaning toward long positions. The Binance DOGE/USDT long-short account ratio stands at 1.7941.

OKX DOGE data shows a higher long-short account ratio of 1.89. This means more accounts are positioned long than short across both exchanges.

Top trader data also shows a bullish skew. Binance top trader long-short accounts stand at 1.9394, while positions stand at 2.6458.

DOGE derivatives show long bias and heavy short liquidations. Source: CoinGlass.

Short traders have faced most recent losses in DOGE markets. Over 24 hours, total liquidations reached $4.62 million.

Short liquidations stood at $3.46 million during that period. Long liquidations reached $1.15 million, based on the provided market data.

The 12-hour data also showed short-side pressure. Total liquidations reached $2.78 million, with $2.25 million coming from shorts.

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DOGE Price Tests Resistance After Rebound

Dogecoin is trading near $0.11015 on the daily Coinbase chart. The price is up about 3.48% in the displayed session.

The chart shows DOGE trying to recover after a sharp decline. Price previously fell from the high zone above $0.25.

DOGE has recently bounced from the $0.08 to $0.09 range. However, it remains below the major breakdown area near $0.12 to $0.15.

The short-term structure is improving as DOGE moves toward resistance. The key resistance zone now sits between $0.11 and $0.12.

A daily close above this zone may confirm stronger upside momentum. The next resistance levels appear near $0.14 and $0.15.

The main support sits near $0.09 after the latest rebound. If DOGE loses this level, sellers may target the $0.08 region.

A deeper decline could bring DOGE toward $0.06 to $0.07. This zone remains a longer-term support area on the chart.

The RSI stands at 74.86, while its signal line is near 58.43. This shows strong buying pressure, but DOGE is in overbought territory.

The MACD line is above the signal line, and the histogram is green. DOGE needs to hold $0.10 and break $0.12 for stronger confirmation.

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