Dogecoin’s multi-year rally is under pressure as the price slips below key upside 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
UX Post, Rekt Capital shared a 1-month DOGE/USDT chart from Binance, created on TradingView on November 15, and warned: “Dogecoin needs to protect its multi-year technical uptrend heading into December to maintain macro upside chances.”
The chart follows Dogecoin from the peak of the crash in 2021 to the bear market of 2022-2023 and the recovery that followed. The uptrend line, built on low market dips, is currently hovering just below the $0.18 region and has defined what Rekt Capital calls DOGE’s “multi-year technical uptrend.”
The latest monthly candle, however, shows Dogecoin trading around $0.16355, below that trendline and pressed against the horizontal support level near $0.159. That horizontal area is not arbitrary. On the monthly time frame, it has repeatedly switched roles between resistance and support over the past two years.
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From May to October 2024, the range of ~$0.159–$0.16 acted as an upper limit, repeatedly rejecting attempts to increase. An eventual breakout above this level in October 2024 preceded an explosive move: Dogecoin’s price nearly tripled from roughly $0.16 to a December high of $0.4843.
In 2025, the same zone became a key support. Between March and July, the monthly candles showed downside wicks breaking below within the month, but the closes repeatedly held above the level, confirming this as a major structural floor.
What to watch now
That history is what makes the current retest so significant. With roughly half of the month remaining, the November red candle has already lost its rising trendline near $0.18 and now depends on the long-term horizontal area of $0.159-$0.16 to stop further declines. On a monthly chart, what matters is not just the intramonth excursion, but where the candle closes.
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If DOGE can bounce back and close above the trendline, the pattern of higher lows that defined the multi-year uptrend would remain largely intact. A monthly close decidedly below the horizontal, in contrast, would mean that both rising support and this historically key price floor have failed, significantly weakening the macro bullish structure.
For now, Dogecoin sits right on that line in the sand. As Rekt Capital said, DOGE “needs to protect its multi-year technical uptrend heading into December” if it is to avoid sliding back to a bear market profile.
At press time, DOGE was trading at $0.1626.
Featured image created with DALL.E, chart from TradingView.com
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