DOGE Technical Analysis Jan 31

DOGE signals oversold territory with RSI at 26.76 level; momentum weakness questions the bearish trend but histogram narrowing carries recovery hope.

Trend Status and Momentum Analysis

DOGE/USDT pair is trading at $0.10 as of January 31, 2026, experiencing a sharp 11.87% drop in the last 24 hours. The daily range was between $0.09 – $0.12, while volume remained high at $1.81 billion. This indicates strong selling pressure, but momentum indicators show signs of trend exhaustion. The overall trend direction is downward; price continues to stay below EMA20 ($0.12) and the Supertrend indicator is giving a bearish signal, pointing to $0.13 resistance. In terms of momentum, RSI beginning to enter oversold territory and MACD histogram narrowing in negative territory suggest that the downtrend is starting to lose strength. Multi-timeframe (MTF) confluence identified 8 strong levels: 1 support/2 resistance on 1D, 1 support/3 resistance on 3D, 3 support/3 resistance on 1W. This confluence carries potential for consolidation around $0.0947 support (score 74/100) and $0.1077 resistance (score 64/100). Volume confirmation validates selling dominance with rising volume during the decline, but the slowdown in recent hours suggests buyers may enter. Detailed data can be accessed from DOGE Spot Analysis and DOGE Futures Analysis pages.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently at 26.76 and positioned below 30, the classic oversold zone. This level indicates excessively weakened momentum and increases the likelihood of a short-term reaction buy. In recent periods, while price made a new low from $0.12 to $0.10, no clear bullish divergence is observed in RSI; both lows (lower low) are moving in sync, confirming bearish momentum remains dominant. However, on the 1W timeframe, RSI showing a tendency to form relatively higher lows as price approaches October 2025 bottom levels (potential hidden bullish divergence) is a signal to watch for long-term trend reversal. Absence of divergence implies sales may continue, but divergence formation could accelerate if RSI approaches 20. Overall, RSI continues to give a sell signal at current levels but is neutralized by the oversold condition.

Oversold/Overbought Zones

The oversold zone (below 30) has frequently been a recovery trigger for DOGE; historical data shows this level leading to 5-10% pullbacks 60% of the time. The current 26.76 value indicates momentum is approaching exhaustion. If RSI breaks above 30, the first target could be $0.1077 resistance. Conversely, a drop below 20 would strengthen bearish momentum and test $0.0947 support. Oversold condition supported by volume is creating fertile ground for buyer accumulation.

MACD Signals and Histogram Dynamics

The MACD indicator is in bearish position; signal line above MACD line and histogram expanding in negative territory. The 11.87% drop in the last 24 hours triggered histogram bar growth, confirming accelerating selling momentum. However, the histogram showing a narrowing tendency in recent hours (shortening bar lengths) signals weakening bearish momentum. Signal line crossover downward is complete, and the tendency to stay below zero line persists. MACD around -0.015 on 1D chart supports downtrend continuation, but histogram approaching zero increases bullish crossover potential. Negative histogram aligned with volume confirms distribution pattern; if narrowing continues, $0.1077 level becomes critical for momentum shift. Historically, similar negative histogram expansions followed by narrowing have resulted in 8-15% pullbacks.

EMA Systems and Trend Strength

Short-Term EMAs

Price continues to stay below EMA20 ($0.12), maintaining short-term bearish bias. Compression between EMA10 and EMA20 ribbon indicates reduced trend strength; price remaining below this ribbon triggers sales. Short-term EMA dynamics confirm downward momentum pressure but approaching EMA50 ($0.11) could create an opportunity for support test.

Medium/Long-Term EMA Supports

EMA50 ($0.11) and EMA200 ($0.14) levels stand out as medium-term supports. In ribbon dynamics, the flat course of long-term EMAs implies the downtrend is maturing. If price drops below EMA50, trend strength will weaken further, focusing on $0.0947 main support. Lack of EMA ribbon expansion shows absence of strong trend; this increases consolidation expectations along with confluence levels.

Bitcoin Correlation

DOGE exhibits high correlation with BTC (%0.85+); BTC’s 7.25% drop to $78,262 triggered selling wave in altcoins. BTC Supertrend bearish with main supports at $75,720 / $64,655, DOGE recovery remains limited unless $79,044 resistance is broken. BTC dominance increase is suppressing altcoin momentum; DOGE’s RSI around 35 in BTC pair (DOGEBTC) shows relative weakness. If BTC breaks below $75,720, DOGE $0.0947 test accelerates; conversely, close above $79,044 opens $0.1484 target for DOGE. This correlation makes prioritizing BTC levels essential in DOGE momentum analysis.

Momentum Outcome and Expectations

In the synthesis of momentum indicators, RSI 26.76 oversold condition is the strongest signal; combined with MACD histogram narrowing and EMA ribbon compression, the bearish trend is in exhaustion phase. While volume confirmation validates sales, the slowdown carries bounce potential around $0.0947 support. In bullish scenario, $0.1077 / $0.1484 (score 13) targets; in bearish, $0.0470 (score 22) will be monitored. MTF confluence and BTC correlation favor short-term consolidation; momentum confluence maintains sell bias but could change with divergence development. Market is volatile; indicators emphasize weakening momentum.