DOGE Drops Over 22% After Tenkan-sen Rejection on Daily Ichimoku Chart

2026-02-23 07:39:31

Dogecoin has been under pressure for a while now, but the latest drop gave traders a clear technical reason to be cautious. After a brief push toward key resistance, DOGE ran into the Tenkan-sen on the daily Ichimoku chart and reversed hard. The coin shed over 22% in short order, with price quickly moving toward the Kijun-sen line before losing additional ground. For anyone watching the Ichimoku setup, this was a textbook rejection playing out in real time.

DOGE Ichimoku Rejection: What the Charts Are Telling Us

The Tenkan-sen, also known as the Conversion Line, acted as a clear ceiling here. Price tagged the level, failed to hold above it, and quickly turned lower, confirming the importance of that resistance zone. This kind of behavior isn’t new for DOGE. Earlier price action showed the same pattern, as covered in Dogecoin Price Consolidates Inside Ichimoku Cloud, where DOGE struggled to gain traction inside the cloud and momentum stayed limited.

Kijun-sen and Repeating Cycles Add More Bearish Context

The failure to reclaim the Conversion Line reflects a broader pattern of fading short-term strength within an already weakened structure. These Ichimoku levels have a track record of acting as decisive turning points rather than just passing reference zones, something explored in depth in Dogecoin Faces Key Resistance at the Kijun-sen Line. Each test of these levels has reinforced how influential they are in shaping DOGE’s directional moves.

Zooming out, the repetitive nature of DOGE’s price action fits into a wider cyclical picture. DOGE Price Analysis: Donchian Channel Shows 3 Repeating Cycles identified recurring consolidation and breakdown structures that now provide additional context for what’s happening now. With DOGE trading below critical Ichimoku thresholds following the 22% slide, the focus shifts to whether bulls can stage a meaningful recovery or if further weakness is still on the table.

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