Dogecoin (DOGE) remains range-bound as it trades near $0.169, failing to break above a key resistance zone around $0.190.

DOGE has entered a consolidation phase within a descending triangle pattern on the daily chart, underscoring persistent bearish sentiment.

Dogecoin (DOGE) price remained range-bound on Thursday, failing to break decisively above a key resistance zone, but also finding support at a familiar level.

What happened: Dogecoin is trading at $0.169, up 0.43 over the past 24 hours. The memecoin has entered a consolidation phase, forming a descending triangle pattern on the daily chart.

The $0.19 level, which coincides with the 0.236 Fibonacci retracement zone, has rejected multiple breakout attempts, while support near $0.1512, backed by the 0.618 retracement, continues to provide a floor for the coin.

Dogecoin price chart: 4-hour chartCredit: Benzinga Pro

The technical outlook remains cautious. On the daily chart, Dogecoin is still below a descending trendline that has been defining its downtrend for several weeks. A break above this long-term trendline would be required to shift the broader sentiment toward bullish.

On the 4-hour chart, the price is still hovering just above the 50 and 100 EMAs, but the 200 EMA, at $0.189, remains a ceiling that Dogecoin has been unable to surpass.

Momentum indicators show muted bullish strength

Momentum indicators are showing a lack of follow-through for either buyers or sellers. The Relative Strength Index is hovering around 45.66, which is neutral.

The Chande Momentum Oscillator at 20 suggests a recent shift in momentum that lacks strong follow-through. A move above 60 on the RSI would signal increased buying pressure.

The MACD on the 4-hour timeframe shows a weak bullish crossover, with a narrowing histogram that lacks the volume necessary for confirmation. Bollinger Bands remain tightly grouped, which suggests that a volatile move could be on the horizon. For now, price action is clinging to the midline. A move above the upper band, currently at $0.175, could be an early signal of breakout strength, while rejection could push Dogecoin back toward $0.156.

What's next for Dogecoin price

Dogecoin will need to decisively close above $0.19, backed by strong volume and bullish momentum on MACD and RSI, to signal a trend reversal. Failure to do so could risk renewed pressure toward $0.156 and possibly $0.142 in the event of broader crypto market weakness.

Until then, the outlook remains neutral to bearish, with key levels defining the consolidation zone. As previously covered by Benzinga, Dogecoin's adoption in tipping platforms and integration into mainstream media conversations will likely determine the short-term narrative.

A confirmed breakout could reignite social media enthusiasm for the memecoin, while failure at key levels may lead to reduced speculative interest.