Dogecoin (DOGE) is locked in a tug-of-war between support and resistance levels on the short-term chart. An analysis has found that while support zones hold the upper hand in the overall technical structure, an upside move will only gather momentum if the nearby resistance band is broken through.

■ 11 Support Levels vs 9 Resistance Levels... "Support Dominant, But Confirmation Needed"

GainMuse, an active member of the CoinMarketCap community, analyzed Dogecoin's 1-hour candle chart on the 24th and concluded that the coin has entered a zone where buying and selling pressures are clashing in the short term.

According to GainMuse's analysis, a total of 20 active price levels have formed on Dogecoin's 1-hour chart, comprising 11 support levels and 9 resistance levels. In addition, three key pattern zones were identified, suggesting that the technical conditions needed to determine the future price direction are in place.

Notably, the number of support levels exceeds that of resistance levels. GainMuse assessed that support zones are relatively dominant in the current chart structure. However, a larger number of support levels does not in itself guarantee a price increase; it remains necessary to confirm whether actual buying pressure defends those zones.

■ Upside Scenario: Defending Support and Breaking Resistance Are Key

In the bullish scenario, defending support levels and breaking through resistance levels are critical. If buyers hold the nearest support zones while successively clearing major resistance levels, short-term upside momentum could expand. In particular, if a resistance breakout is accompanied by rising trading volume, the market's direction could become even clearer.

The opposite scenario must also be kept in mind. If the price is repeatedly rejected at resistance zones and then falls below the nearest support level, it could be interpreted as a signal that short-term buying pressure is weakening. For investors who entered the uptrend late, this could be a period of heightened volatility.

■ Short-Term Direction Hinges on 'Price Reaction at Key Levels'

Ultimately, what matters most on the current Dogecoin chart is how the price reacts at the nearest support and resistance zones. With 11 support levels and 9 resistance levels intertwined, whether key price levels are actually held or breached—rather than momentary price fluctuations—will likely be the key variable in judging short-term direction.

Meanwhile, technical support and resistance in the cryptocurrency market do not always work as expected. Dogecoin's short-term trend can also shift rapidly depending on the movements of major cryptocurrencies such as Bitcoin, market liquidity, and changes in derivatives positions.

[※ This article was written for the purpose of providing information on the cryptocurrency market and does not recommend the purchase or sale of any specific virtual asset or guarantee investment returns. Technical analysis may vary depending on the time of analysis and the indicators applied, and actual market prices may move in unexpected directions. Investment decisions and their consequences are the responsibility of the investor. This article was written with AI assistance.]