Dogecoin/Tether (DOGEUSDT) Market Overview for 2025-11-11

Summary
• Price opened at $0.17828, reached $0.1864, found support at $0.17601, and closed at $0.17604 by 12:00 ET.
• Volume surged to 381.4 million DOGE, and turnover hit $67.9M, indicating heightened activity.
• A strong bearish reversal pattern and overbought RSI suggest a possible downward correction in the short term.

Dogecoin/Tether (DOGEUSDT) opened at $0.17828 on 2025-11-10 at 12:00 ET and closed at $0.17604 on 2025-11-11 at 12:00 ET. The pair reached a high of $0.1864 and found support at $0.17601 over the 24-hour period. Total volume for the session was approximately 381.4 million DOGE, with a notional turnover of $67.9 million. This indicates increased trading activity and potentially significant distribution or accumulation behavior.

On the 15-minute chart, DOGEUSDT has been forming key support and resistance levels around $0.1765–0.1775 and $0.1800–0.1815. Several bearish engulfing patterns emerged during the early morning hours, particularly between 01:30 ET and 02:15 ET, suggesting bearish momentum. A large bearish reversal pattern at $0.18417 (23:00 ET) acted as a catalyst for a pullback. Notable support levels include the $0.1780 and $0.1765 areas, which appear to have held during minor countertrend rallies.

The 20-period and 50-period moving averages on the 15-minute chart were above price for much of the session, but the price broke below both during the early morning hours. On the daily chart, the 50-period MA is above the 200-period MA, but the price is currently below both, indicating a potential bearish bias over the short term. The MACD crossed below the zero line during the late evening, confirming bearish momentum, while the RSI hit overbought territory at ~75 and is now trending below 40, suggesting a potential correction.

Bollinger Bands showed a period of tight contraction around 21:00 ET, which was followed by a sharp move to the upper band at $0.18417. The price has since fallen well into the lower band, indicating a potential reversal near $0.1760–0.1765. Volume spiked during the breakout at $0.18417 and again during the subsequent breakdown, providing confirmation of the move. Turnover and volume are aligned, with no major divergences observed. Fibonacci retracement levels from the $0.18417 high and $0.17601 low show key levels at $0.1807 (38.2%) and $0.1783 (61.8%), which could offer additional support or resistance in the next 24 hours.

The strategy titled “Buy on Bullish Engulfing, Hold 3 Days” is a straightforward technical trading approach designed to exploit strong reversal signals in the DOGEUSDT market. Using Binance's daily close price data from 2022-01-01 through 2025-11-10, the backtest applies a simple entry condition: a confirmed bullish engulfing candle pattern. This pattern is identified using classical candlestick criteria—where a larger bullish candle follows and engulfs a smaller bearish candle. Once the pattern is confirmed, the system enters a long position and holds it for exactly 3 trading days, with no stop-loss or take-profit rules applied. The system assumes perfect execution at the close price and ignores commission, slippage, and leverage. The performance metrics—equity curve, drawdowns, and trade log—are all accessible in the interactive dashboard. This backtest provides a baseline for understanding how the market reacts to high-probability reversal signals, which are also visible in the current candlestick formations on the 15-minute chart.