Market Overview for Dogecoin/Tether (DOGEUSDT) – 2026-01-08

Summary
• Price declined from $0.14847 to $0.141, forming a bearish trend.
• Key support at $0.141 and resistance at $0.14685 were tested.
• Volume spiked at the 6-hour mark before a sustained selloff.
• RSI dropped below 30, suggesting oversold conditions.
• Bollinger Bands expanded during the sharp decline, signaling heightened volatility.

Dogecoin/Tether (DOGEUSDT) opened at $0.14685 on 2026-01-07 12:00 ET, hit a high of $0.14847, fell to a low of $0.138, and closed at $0.141 at 12:00 ET on 2026-01-08. Total volume was ~122.9 million DOGE, with a notional turnover of ~$17.2 million during the 24-hour window.

Structure and Formations

The price formed a bearish continuation pattern throughout the session, with key resistance at $0.14685 and support at $0.141 repeatedly tested. A long bearish candle around the 6-hour mark (06:30 ET) confirmed downward momentum, while a doji near $0.1437 suggested indecision.

Moving Averages and Momentum

On the 5-minute chart, price fell below the 20- and 50-period moving averages, reinforcing the bearish bias. The daily 50- and 200-period lines were not clearly crossed due to the time frame, but the RSI dipped below 30, signaling potential oversold conditions and a possible short-term bounce.

Volatility and Bollinger Bands

Volatility expanded significantly during the sharp decline, with price dropping near the lower Bollinger Band. This contraction may signal increased uncertainty among traders, though a rebound to the mid-band could indicate short-term stabilization.

Volume and Turnover

Volume spiked at 06:30 ET during the sharp selloff, coinciding with a large downward move from $0.146 to $0.1437. Notional turnover followed suit, confirming the bearish action. A divergence appears in the later hours, where volume decreased despite continued downward pressure, suggesting exhaustion in the short-term selloff.

Future Outlook and Risk

The price may test the $0.141 support level again in the next 24 hours, and a break below this could target $0.138–$0.139. However, the oversold RSI and Fibonacci levels at 38.2% and 61.8% suggest a potential short-term bounce. Investors should watch for confirmation of a reversal or a break in key support as the next catalyst.