Recently, the performance of DOGE ( DOGE ) in the market has been remarkable. The daily chart shows that after reaching the descending trend line, DOGE has displayed a strong momentum. The previous resistance level has now turned into support, with the price stabilizing above $0.23 and maintaining this level for several days.

It is worth noting that the role of the trend line has reversed, changing from a top resistance level to a bottom support level, further confirming the breakout signal. As of the latest quote, the trading price of DOGE is $0.242, with a 24-hour increase of 2.5%. Although it has pulled back from $0.27, DOGE seems to be building a底部 rather than falling into a deeper adjustment.

In terms of technical analysis, cryptocurrency analyst Trader Tardigrade points out that the daily chart relative strength index ( RSI ) shows a hidden bullish divergence. This pattern typically occurs when the price creates higher lows while the RSI creates lower lows. This signal usually suggests that despite a weakening momentum, the overall upward trend continues.

Currently, the market has not shown any obvious bearish signals, and the RSI indicator has also escaped the oversold zone. Analysts will focus on the range of $0.25 to $0.36 as a potential breakout area.

Interestingly, despite the decrease in the number of active addresses, the price of DOGE remains relatively stable. This phenomenon may suggest that large and relatively inactive holders are accumulating assets in preparation for a potential price increase in the future.

Investors and traders should closely monitor the subsequent trends of DOGE, especially its performance near key support levels and potential breakout areas. However, the inherent high volatility of the cryptocurrency market reminds us that any investment decision should be based on comprehensive market analysis and individual risk tolerance.