Market Overview: DogeCoin (DOGEUSD) 24-Hour Technical Review

• DogeCoin posted a 24-hour low near $0.2075 amid fading momentum.
• Price retested the $0.2113 support level multiple times without breaking below.
• Volume surged during the $0.20756–$0.21133 selloff, confirming bearish pressure.
• A recovery above $0.213 could signal a short-term reversal.
• The RSI hovered near 40, suggesting consolidation but not oversold conditions.

DogeCoin (DOGEUSD) opened at $0.21441 on 2025-09-01 12:00 ET, reaching a high of $0.21452 and a low of $0.20756, with a closing price of $0.21279 on 2025-09-02 12:00 ET. Total volume was 158,940.0 and notional turnover amounted to approximately $32,857.32 over the 24-hour period.

Structure & Formations

The candlestick pattern displayed a bearish breakdown from a key support level near $0.2113, with a series of inside bars and gravestone doji formations suggesting indecision. A bearish engulfing pattern occurred on the candle closing at $0.20756, indicating strong bearish momentum. Price found a temporary floor around $0.2075, where it consolidated briefly before a modest recovery.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bearish crossover, with the 20 MA below the 50 MA, suggesting downward pressure. On the daily timeframe, the 50/100/200-period MAs were aligned in a bearish bias, reinforcing the medium-term bearish outlook. Price has been trending below the 50 MA, indicating continued bearish momentum.

MACD & RSI

The MACD line showed a negative divergence, confirming bearish momentum, while the signal line remained above zero, hinting at potential bearish exhaustion. The RSI was in the 40–50 range for most of the 24-hour period, indicating a neutral to slightly bearish tone without overbought or oversold conditions. A breakout above $0.213 could trigger a short-term RSI rebound.

Bollinger Bands

Volatility widened significantly during the selloff to $0.20756, with price breaching the lower band, signaling high volatility and bearish exhaustion. After this, price retested the middle band and consolidated around $0.2127, suggesting potential for a countertrend move back toward the upper band.

Volume & Turnover

Volume spiked during the $0.20756–$0.21133 range, indicating strong bearish conviction. The $0.2113 level was tested multiple times with no break below, suggesting accumulation. Notional turnover aligned with volume increases, validating the price moves. A volume divergence occurred as the price fell toward $0.2075, indicating a possible turning point.

Fibonacci Retracements

Fibonacci levels derived from the $0.20756–$0.21405 swing showed 61.8% at $0.2113, where price found support. A 38.2% retracement at $0.2124 was tested during the recovery, suggesting a potential bounce area. The 200% extension at $0.2165 may serve as a potential resistance if the bullish bias resumes.

Backtest Hypothesis

A potential backtest strategy involves entering long positions on a close above the 50-period MA on the 15-minute chart, with a stop-loss placed below the most recent swing low. This aligns with the current recovery attempt near $0.21279 and could be tested over the next 24 hours. Given the bearish exhaustion observed in the MACD and volume divergence, this strategy may identify early bullish momentum if the price reclaims the 20-period MA.