Dogecoin is demonstrating a long-term upward trend, maintaining stable demand zones and showing strong trader positioning in the market.
Structural Support within the Rising Channel
The recent weekly chart for Dogecoin shows a rising channel pattern, with a broad shaded support band serving as the market's base. This demand zone has repeatedly acted as a launchpad for sustained rallies in past cycles.
Ali (@ali_charts) reaffirmed Dogecoin as 'still in the BUY zone,' a view consistent with structural behavior. Price action has respected the lower boundary of the channel with repeated retests, each followed by constructive bullish reactions from buyers.
Breakout Dynamics and Technical Targets
Recent breakouts through short-term resistance have produced strong weekly candles, showing the market's ability to hold gains. Importantly, the breakout remains intact, with no decisive weekly reversal threatening the underlying trend.
Measured technical targets derive from channel geometry and prior swing highs. Historical behavior suggests that price often gravitates toward the mid and upper channel regions after retesting the shaded base.
Derivatives Data Reflecting Trader Conviction
As of the time of writing, Dogecoin is priced at $0.2855, with a 24-hour trading volume of $5.22B, marking a 9.93% daily increase and a 32.33% weekly gain.
Long/short ratios across major exchanges show strong bullish positioning. Binance's account ratio stands at 2.4352, with top traders leaning further at 3.3328. Positions data reaches 4.3504, while OKX registers at 2.07.
Liquidation metrics confirm this momentum. In the last 24 hours, $20.87M was liquidated, with $17.86M from shorts.
The analysis of current trends indicates that Dogecoin continues to hold its bullish trend with confirmed demand zones and strong trader positions, which may signal further growth.
