Market Overview for Dogecoin/Tether (DOGEUSDT): 24-Hour Summary

Summary
• DOGEUSDT formed a bullish engulfing pattern near 0.13623 after a sharp rebound from 0.1362.
• Price traded within a 0.1362–0.1386 range, with 0.1371 acting as a dynamic support/resistance zone.
• Volatility expanded as the 5-minute Bollinger Bands widened, suggesting increasing market participation.
• RSI crossed into overbought territory above 60, hinting at potential short-term profit-taking.
• Turnover surged during the 16:00–17:00 ET window, confirming price action above 0.1393.

Dogecoin/Tether (DOGEUSDT) opened at 0.13656 on 2026-01-16 at 12:00 ET and closed at 0.13764 at 12:00 ET on 2026-01-17. The pair reached a high of 0.14003 and a low of 0.1362 during the 24-hour period. Total volume amounted to approximately 35.9 million DOGE, while notional turnover reached around $5.005 million.

Structure and Price Action

The 5-minute chart showed a strong consolidation pattern from 0.1362 to 0.1386, with a bullish engulfing candle forming at the lower boundary of the range. Price action appeared to favor the upper half of the range during the final 8 hours of the period, with a breakout attempt observed near 0.1393. A doji formed around 0.1379, indicating indecision at higher levels.

Volatility and Momentum

Bollinger Bands on the 5-minute chart expanded significantly during the last 4 hours, suggesting a rise in volatility. The RSI indicator moved into overbought territory above 60, particularly around 16:00–17:00 ET, signaling the potential for near-term profit-taking or a pullback. MACD showed a positive divergence during the 15:00–16:00 ET window, supporting the continuation of the upward move.

Volume and Turnover

Volume surged to over 35.9 million DOGE at 16:00 ET, coinciding with the highest price of 0.14003. Notional turnover spiked to $5.005 million during this period, indicating strong confirmation of the breakout attempt. However, volume dipped afterward, suggesting a possible exhaustion of bullish momentum.

Trend and Moving Averages

On the 5-minute chart, the 20- and 50-period moving averages remained in close proximity, reflecting a sideways trend. The 50-period MA acted as a dynamic support near 0.1371, with price testing it multiple times. Daily moving averages showed no clear divergence, with the 50- and 100-period MAs in a tight alignment.

Fibonacci and Key Levels

A key 5-minute swing from 0.1362 to 0.14003 saw a retest of the 61.8% retracement level at around 0.1387. Price action failed to hold above that level and retreated slightly. The 38.2% retracement at 0.1390 may act as a near-term target if buyers regain control.

Looking ahead, the next 24 hours may see DOGEUSDT test the 0.1387–0.1390 area, with a potential pullback to the 0.1371–0.1376 range if momentum weakens. Traders should monitor volume and RSI divergence for signs of trend fatigue or continuation. As always, price may remain volatile due to the nature of altcoins like Dogecoin.