Dogecoin holds above $0.0985 as whales buy $112 million ahead of resistance test

Upward Trend Remains Intact

Since forming a local bottom close to $0.069 in August, Dogecoin has carved out a clear structure of higher lows and peaks. This price formation has produced a rising trend line, which analysts view as an indicator of ongoing buyer strength. The support now sits across the lower $0.08 range, having repeatedly provided a foundation for price rebounds during September.

Technical analysis has identified a horizontal support region at $0.0792. This level emerged as a critical pivot throughout the rebound and continues to bolster market confidence as upward moves develop.

Key Resistance and Next Price Targets

Immediate attention is fixated on the $0.10 level, considered a psychologically and technically important barrier. Dogecoin has approached this mark multiple times throughout the current month but has yet to break through decisively.

Above this area, the main resistance stands at $0.1174. This price level last rejected Dogecoin’s advance in May and remains the principal obstacle on the daily chart. Market participants are watching for sustained buying pressure to propel DOGE past these benchmarks.

If sellers regain control, the ascending trend line offers the first layer of support. However, a daily close below $0.0792 would disrupt the structure of higher lows and could send the price retesting the August bottom.

Momentum and On-Chain Accumulation

Technical indicators provide additional insight into Dogecoin’s current status. The Relative Strength Index (RSI) registers at 62.94, reflecting solid buying energy without signaling an overbought condition. Meanwhile, the MACD indicator remains in positive territory, with the primary line at around 0.0039 and a histogram near 0.0010, evidencing recent acceleration in upward momentum.

Trading volumes expanded in September, especially as Dogecoin bounced from the $0.0792 support. These signals point to increasing market participation and potential for further advances if critical resistance levels are breached.

Market analyst Ali Charts observed that Dogecoin is currently facing significant resistance just below $0.10, an area with heavy trading activity totaling about 28 billion DOGE. Despite this, large investors acquired more than 1.14 billion DOGE—worth $112 million—over the last 96 hours, suggesting continued accumulation by major holders even as price approached a supply zone.

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As momentum builds above the support zone, Dogecoin bulls are focused on securing a close above $0.10 to open a path toward the $0.1174 resistance. If buyers can maintain pressure, a breakout could initiate a fresh upward leg, while failure to hold above key supports could reintroduce downside volatility.