Dogecoin (DOGE) Technical Analysis: Descending Triangle Pattern Emerges Amid Rising Sell Pressure

Key Takeaways

• DOGE declined more than 3% over the past 24 hours, hovering near $0.0901, beneath both the 20-EMA ($0.0934) and 50-EMA ($0.0985)
• Approximately $1.45 million worth of DOGE positions were liquidated within 24 hours, with long positions accounting for 98% of the total
• Technical analyst Ali Martinez highlighted that DOGE remains “stuck” within a descending triangle pattern, suggesting a possible 29% price swing in either direction
• Critical resistance levels are positioned at $0.0916 and $0.0932; crucial support zones identified at $0.0896 and $0.0884
• DOGE futures open interest remained relatively stable around $1.05 billion, while the long/short ratio stands at 0.87, indicating shorts have the upper hand

The popular meme cryptocurrency has experienced persistent downward momentum over recent trading sessions, failing to maintain crucial technical thresholds. Market data from various platforms indicates bearish near-term conditions, although certain technical analysts identify chart formations that could eventually trigger upward price action.

On March 30, 2026, DOGE changed hands at approximately $0.0901, representing a decline exceeding 3% over the prior 24-hour period based on CoinMarketCap figures. The current price level remains beneath both the 20-period exponential moving average of $0.0934 and the 50-period exponential moving average of $0.0985—indicators that generally suggest sustained bearish momentum.

The Relative Strength Index currently registers at 43, positioning DOGE within neutral-to-bearish range. Additionally, the MACD indicator shows the MACD line trading beneath the signal line, suggesting weakening bullish momentum.

Market analyst Ace observed that sell-side activity has dominated recent order flow patterns. In Ace’s assessment, “the red delta bubble area has been significantly larger than the other colored bubbles for recent orders,” indicating that sellers maintain control over short-term price movements.

Selling pressure has repeatedly prevented price advances beyond the $0.0916 and $0.0932 thresholds. Should buyers fail to recapture these levels, the bearish trend appears likely to persist.

Heavy Long Liquidations Indicate Weakening Bullish Sentiment

Data from CoinGlass reveals that roughly $1.45 million in DOGE positions were forcibly closed during the previous 24-hour period. Long positions represented approximately 98% of these liquidations, indicating that traders holding bullish bets were stopped out as prices declined.

Liquidation heatmap analysis reveals concentrated activity just beneath the $0.0890 mark. A decisive break below this threshold could trigger additional selling pressure toward lower price targets.

Trading volume in DOGE futures contracts decreased by nearly 20% during the 24-hour window. Meanwhile, open interest held steady at approximately $1.05 billion, indicating limited new position creation among traders. The current long/short ratio of 0.87 demonstrates that short positions modestly outnumber long positions across the market.

Descending Triangle Formation Under Analyst Scrutiny

Technical strategist Ali Martinez shared on X that DOGE continues to be “still stuck in a triangle,” referencing an earlier analysis that identified a descending triangle formation on the 4-hour timeframe. Martinez previously suggested this technical pattern could catalyze a 29% price movement, though the breakout direction remained unspecified.

As of Sunday, the anticipated breakout had yet to occur. DOGE briefly touched $0.088 before recovering to approximately $0.092 during overnight trading.

Technical strategist Bitcoinsensus similarly observed that DOGE appears to be moving through a recurring cycle consisting of accumulation phases, markup periods, pullbacks, and repetition. The present market structure suggests DOGE is currently experiencing a pullback phase, although definitive reversal indicators remain absent in the near term.

According to CoinGlass data, open interest in DOGE futures contracts increased 3.21% during the past 24 hours. Concurrently, bullish positioning on meme-based cryptocurrencies gained traction within Binance’s derivatives marketplace throughout the same timeframe.

At the time of Benzinga’s coverage, DOGE was exchanging hands at $0.09230, reflecting a 24-hour increase of 0.80% and a weekly gain of 1.50%.

The post Dogecoin (DOGE) Technical Analysis: Descending Triangle Pattern Emerges Amid Rising Sell Pressure appeared first on Blockonomi.