TL;DR:
For the memecoins market, the weekly session also started in the red, moving under the influence of the widespread retreat of the main non-tangible assets.
The opening of the new weekly candle exposed a deterioration in investor risk appetite. This became evident after Bitcoin slipped below the $77,000 barrier. Faced with this scenario, highly speculative assets—such as Dogecoin, Shiba Inu, and Pepe—showed technical vulnerability. Worsening selling pressure over the last few hours continued the correction recorded in the financial marketplace during the previous period.
Within the top 10 cryptocurrencies by market capitalization, Dogecoin stood out as the most affected asset of the day. The dog-themed meme coin experienced an intraday pullback of 5%, neutralizing the recovery attempts that emerged last week. Last Thursday, DOGE’s price reached the weekly resistance zone located at $0.119. However, sellers regained control of the order flow at that level.
This rejection at the resistance triggered a sequence of lower lows. The devaluation translated into an accumulated loss of nearly 6% between Friday and Sunday. The bearish momentum extended into the early hours of Monday, forcing the token to trade below the intermediate support of $0.106.
According to the technical report of the analyzed platform, the 4-hour chart for the DOGE/USD pair maintains a bearish structure due to the loss of key supports. Market reading data suggests that if the daily candle consolidates a close below the 100-day Exponential Moving Average (EMA), located near $0.106, selling pressure could intensify in the short term.
Everything seems to indicate that the next relevant bearish target would be located around the 50-day EMA, which averages $0.103. A definitive break below this latter level would project the price toward the old broken trendline near $0.090.
Momentum indicators reinforce the weak outlook for Dogecoin’s price. The Relative Strength Index (RSI) on the 4-hour timeframe operates at 41 points, remaining below the neutral threshold of 50. According to the source’s technical analysis tools, this behavior signals a strengthening of the selling structure.
In line with this, the Moving Average Convergence Divergence (MACD) indicator completed a bearish crossover during Saturday’s session. This signal remains active on the current charts and supports the risks of an extension of short-term losses.
Despite the predominantly bearish configuration, market projections indicate that Dogecoin could attempt a temporary rebound. This would occur if buyers successfully defend the immediate support of the 100-day EMA at $0.106. According to the current trend described by analysts, sustaining that price would open up the possibility of testing the $0.119 resistance once again. All in all, the evolution of alternative assets will remain closely linked to the direction Bitcoin takes.
