Market Overview for Dogecoin/Tether (DOGEUSDT): 2026-01-11

Summary
• DOGEUSDT broke key support at 0.1396, with bearish engulfing and a long lower shadow near 0.13875.
• RSI hit oversold territory below 30, suggesting potential short-term bounce, but volume remains subdued.
• Bollinger Bands narrowed ahead of a sharp drop, indicating a possible shift in volatility.
• Turnover surged during the breakdown, confirming bearish momentum despite mixed candlestick signals.
• 50-period moving average on 5-min chart turned down, reinforcing a potential test of 0.1380.

Market Overview

Dogecoin/Tether (DOGEUSDT) opened at 0.14018 on 2026-01-10 at 12:00 ET, reached a high of 0.1412, touched a low of 0.13674, and closed at 0.13817 at 12:00 ET on 2026-01-11. Total volume for the 24-hour period was approximately 59,638,254 DOGE, with a notional turnover of $8,222,741.44.

Structure and Patterns

Price action displayed a bearish breakdown below 0.1396, with a bearish engulfing pattern and a long lower shadow at 0.13875. The candle at 0.13903–0.13903 (01:45 ET) showed indecision with a doji, hinting at a potential short-term pause.

Moving Averages and Momentum

The 50-period moving average on the 5-min chart turned bearish, reinforcing the downward bias. RSI dipped into oversold territory below 30 during the 16:00–16:15 ET session, hinting at a possible rebound, though volume failed to confirm strength.

Volatility and Bollinger Bands

Bollinger Bands compressed before the sharp decline, signaling a potential breakout lower. Price closed near the lower band at 0.13817, suggesting heightened volatility could persist.

Volume and Turnover

Volume spiked significantly during the breakdown at 16:00 ET, with a single candle accounting for nearly 10x the average 5-minute volume. Turnover confirmed bearish momentum, though divergence between price and volume in the final hour suggests caution.

Fibonacci Retracements

A key 61.8% retracement level was violated at 0.1396, confirming a deeper move lower. The 38.2% level at 0.1402 offered minimal resistance, reinforcing the bearish bias.

Looking ahead, DOGEUSDT appears to be in a bearish setup, with a potential test of 0.1380 and possibly 0.1365 if momentum continues. Traders should remain cautious as overbought indicators in volume may precede a short-term bounce.