DOGEIDR Fails to Hold 1665 Despite Volume Spike

Summary
• Price consolidated around 1650–1665 with failed breakout attempts observed.
• Volume spiked near 1660–1670 but failed to confirm bullish momentum.
• RSI and MACD signaled mixed momentum, suggesting indecisive market behavior.
• Bollinger Bands showed narrowing volatility before a sharp rebound in early ET.
• Fibonacci retracements highlighted key potential reversal levels near 1640–1655.

The Dogecoin/Rupiah (DOGEIDR) pair opened at 1650 on 2026-02-07 12:00 ET, reached a high of 1676, and closed at 1664 on 2026-02-08 12:00 ET, with a low of 1630. Total volume for the 24-hour period was 135,463 DOGE, and turnover amounted to 222,586,053 Rupiah.

Structure & Formations

Price action showed key support around 1640–1650 and resistance near 1665–1670 on the 5-minute chart. A bullish engulfing pattern appeared at 1660–1665, but it failed to hold, suggesting a possible bearish reversal. A doji formed near 1650, signaling indecision and a potential pivot point.

Moving Averages and Trends

The 5-minute chart showed the 20-period and 50-period moving averages converging near 1655–1660, reinforcing a short-term consolidation pattern. The daily chart saw the 50-period and 100-period moving averages aligning around 1645, indicating a potential trend reversal or continuation could be in play.

Momentum and Oscillators

MACD crossed into the negative territory near 1660, suggesting a bearish turn in momentum. RSI oscillated between overbought (65–70) and neutral (50–55) zones, confirming inconsistent momentum. The RSI divergence between price and momentum suggests a potential correction may be ahead.

Volatility and Bollinger Bands

Bollinger Bands narrowed significantly during the early hours of the 24-hour window before a sharp expansion as the price rebounded near 1660. The price spent most of the session near the middle band, suggesting a low-volatility environment.

Volume and Turnover Analysis

Turnover spiked at 1660–1665, with nearly 5.4 million Rupiah transacted in that range. However, price failed to hold above 1665, indicating a potential divergence between volume and price action.

Looking ahead, the market appears to be in a consolidation phase with key levels at 1640–1655 and 1660–1670 likely to dictate the next directional move. Investors should monitor RSI and MACD for confirmation of a breakout or reversal. As always, sudden liquidity shifts or news events could trigger unexpected price swings.