Rich by Coin

Dogecoin has entered a phase of consolidation after declining from its recent rejection at $0.12 resistance. The cryptocurrency lost key market structure levels during the pullback, including the point of control and value area low. Price has now reached the $0.11 swing low, where early signs of demand are emerging. The current price action suggests a potential swing failure pattern may be developing.

This technical setup occurs when the price briefly breaks below a key support level but fails to maintain acceptance. Instead of continuing lower, the asset reclaims the broken level on a closing basis. Such patterns often indicate that sell-side liquidity has been absorbed rather than marking the start of a sustained downtrend. Wicks below the $0.11 level show that stop losses were triggered.

However, the lack of follow-through selling pressure indicates larger market participants may be accumulating positions. Dogecoin has closed above this swing low multiple times, preventing a breakdown in market structure. The rejection from $0.12 marked a clear shift in short-term momentum. Traders who entered positions at higher levels were forced to exit as support zones failed.

This accelerated the decline toward $0.11, where historical demand has previously emerged. Volume patterns during the decline show typical characteristics of a liquidation move. Sellers dominated as the price broke through intermediate support levels. The current consolidation at $0.11 shows reduced selling pressure compared to the initial breakdown.

For the swing failure pattern to be confirmed, Dogecoin needs to demonstrate sustained acceptance above $0.11. Volume expansion would strengthen the case for a relief bounce. Without this confirmation, the pattern remains speculative rather than actionable. Even if Dogecoin bounces from its current levels, the path higher faces significant obstacles.