• Dogecoin struggles to break resistance at $0.12-$0.13, while strong support holds around the $0.10 level.

• RSI and MACD suggest neutral momentum, with weak signals pointing to a potential shift in market direction.

• Low trading volume hints at upcoming price movement, with DOGE likely to break out of its current tight range soon.

Dogecoin (DOGE) has been trading within a tight range over the past two months, maintaining its price around $0.10 to $0.12. At press time, DOGE was trading at $0.1095, and is down by 1.62% in the past 24 hours. 

This consolidation phase followed a period of volatility earlier in the year, where DOGE attempted to break past $0.12 several times but faced strong resistance. The current neutral indicators suggest the market is waiting for a major breakout, with support and resistance levels guiding future price action.

Price Action and Key Levels

DOGE is experiencing resistance between $0.12 and $0.13, where selling pressure has repeatedly prevented the price from advancing further. On the downside, the price has found solid support near $0.10, a level that has held strong in recent weeks. 

Source: MikybullCrypto

However, trading volume has remained relatively low, hinting at a lack of participation from both bulls and bears. Historically, low volume during consolidation often precedes a more significant move, either upward or downward.

Neutral Indicators Suggest Lack of Momentum

The Relative Strength Index (RSI), currently sitting at 50.54, indicates neither overbought nor oversold conditions for DOGE. This reflects the ongoing sideways movement of the cryptocurrency. A rise in RSI above 60 would signal stronger buying interest, while a decline below 40 could indicate selling pressure. 

Source: TradingView

Meanwhile, the Moving Average Convergence Divergence (MACD) shows a slight bearish crossover. With both the MACD and its signal line hovering near zero, this suggests weak momentum in either direction. The MACD histogram also shows diminishing values, highlighting the lack of clear direction in the current market.

Volume Remains Low Amid Price Consolidation

Notably, trading volume has significantly decreased compared to the spikes seen in July and August. With DOGE trapped in a tight range between $0.10 and $0.12, the next key price movement will likely occur when volume increases and breaks this consolidation phase. If DOGE can rise above $0.12, it could rally toward $0.14 or higher. Conversely, a drop below $0.10 could test lower support levels at $0.08 or $0.09.