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Dogecoin’s latest attempt to move higher ended in a rejection at a technically important level, according to crypto analyst Ali Martinez. Martinez said the memecoin’s failed break above descending triangle resistance on the 12-hour chart shifts attention back to the $0.088 area, raising the possibility of a retest of lower support.
Martinez characterized the move as a false breakout rather than the start of a sustained trend reversal. He wrote that DOGE showed a “fakeout” as it attempted to break out of a descending triangle on the 12-hour chart, with the descending trendline holding as resistance and rejecting the price immediately.
He added that when a breakout fails sharply, markets often seek liquidity toward the bottom of the structure.
Martinez’s comments referenced a setup that had been developing for about two months. In a video shared two days earlier, he said Dogecoin had been compressing within the descending triangle for roughly two months, with price action tightening toward the apex. In that context, he suggested the surrounding levels become more consequential as the pattern approaches a decision point.
Martinez outlined two main scenarios based on the triangle’s boundaries:
In Martinez’s view, the failed breakout undermined the bullish case, at least for now. Instead of showing acceptance above the descending trendline, DOGE was rejected back into the triangle, suggesting buyers were unable to absorb supply at the breakout point. That leaves the lower boundary of the triangle as the next likely destination, with the market shifting from breakout anticipation to support defense.
At press time, DOGE traded at $0.09684.
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