The cryptocurrency market showed volatile and uneven dynamics last week. Bitcoin price recently hit an eight-week high above $97,000, but has since recovered to around $90,000.

Dogecoin’s move reflects this mixed sentiment. A brief rally he lifted it close to the resistance last week around $0.15 but a meme coin it has since slipped back below $0.13, burdened by profit-taking among investors.

Against the backdrop of consolidation and near-term corrections, a technical analysis recently shared by a cryptocurrency analyst on

BTC vs DOGE: what the technical data suggests

Technical analysis of the BTCUSDT/DOGEUSDT chart shows two cryptocurrency heavyweights trading in an ascending channel that has repeatedly tested its upper boundary without a convincing breakout, a sign that the uptrend may be waning. In a technical trading framework, failure to maintain momentum at resistance often precedes a reversal.

In this case, the decreasing slope of recent attempts to enhance the BTC/DOGE ratio indicates that Bitcoin may be losing relative strength against Dogecoin in the brief term. At the moment, it looks like the BTC/DOGE pair is now rejecting the upper boundary of this rising channel and the next move will be a push down.

This interpretation of the ratio does not comment on the absolute price of both cryptocurrencies, only the comparison of the performance of both assets. If the ratio falls below the channel’s lower trend line, it can be interpreted as a signal that Dogecoin is gaining relative performance against Bitcoin, which could prompt cryptocurrency traders to reallocate capital into a relatively stronger asset.

What Dogecoin Surpassing Bitcoin Could Look Like

Bitcoin’s price action over the past few days has been defined by volatility around the $90,000 level. Easing inflation fears and the U.S. Supreme Court’s rejection of international trade tariffs helped shut down BTC last week to $97,000. However, at the time of writing, the leading cryptocurrency has returned to trading around $93,030.

Meanwhile, Dogecoin’s trajectory matched Bitcoin’s price action and the broader cryptocurrency market trend. DOGE faced rejection after edged increases in resistance near $0.15, causing it to fall back to $0.127, just below the $0.13 price level that has played a support role in recent months.

If technical forecasts for the BTC/DOGE ratio develop as expected, Dogecoin’s outperformance relative to Bitcoin could have multiple impacts. Outperformance may not necessarily manifest itself in DOGE exploding higher on its own, but also if DOGE holds stronger or falls less than Bitcoin during corrections.

Featured image from Getty Images, chart from Tradingview.com