Dogecoin Tests Weekly EMA Support as Bears Drive 5% Slide to $0.17
Ted Hisokawa Nov 13, 2025 17:42
DOGE price fell 5.5% to $0.1730 during European trading as bears broke critical $0.1720 support on heavy volume, testing weekly exponential moving average levels amid broader crypto weakness.
Quick Take
• DOGE trading at $0.17 (down 2.2% in 24h) • Technical breakdown below $0.1720 support triggered heavy selling • Weekly EMA support being tested after 5.5% intraday decline • Following broader crypto weakness as Bitcoin remains under pressure
Market Events Driving Dogecoin Price Movement
The most significant catalyst affecting DOGE price action today stems from yesterday's technical breakdown below the critical $0.1720 level during European trading hours. Dogecoin fell 5.5% to $0.1730 on November 13, marking a sharp reversal from the previous session's gains. This decline was accompanied by a surge in trading volume to 500.6 million tokens on Binance spot markets, significantly above the 24-hour average, indicating institutional selling pressure.
The breakdown came just three days after Dogecoin surged 5.2% to $0.1811 following former President Trump's comments about potential $2,000 stimulus payments. That rally had pushed DOGE price above the $0.1800 resistance level, but the momentum proved short-lived as broader market sentiment deteriorated.
With no significant news events in the immediate 48-hour window, Dogecoin technical analysis suggests the current price action is driven primarily by technical factors and correlation with the broader cryptocurrency market decline. Bitcoin's continued weakness has created headwinds for altcoins, with DOGE following the broader risk-off sentiment affecting speculative digital assets.
DOGE Technical Analysis: Testing Weekly EMA Support
Price Action Context
DOGE price is currently trading below all major moving averages, with the token positioned at $0.17 compared to the 20-day SMA at $0.18 and 50-day SMA at $0.20. This configuration indicates sustained bearish pressure, with Dogecoin failing to reclaim the short-term moving average support that previously acted as a floor during October's consolidation phase.
The current price action shows DOGE following Bitcoin's weakness rather than exhibiting independent strength. Trading volume on Binance spot remains elevated at $199.8 million over 24 hours, suggesting continued institutional interest despite the downward pressure.
Key Technical Indicators
The RSI (14-period) reading of 38.58 places Dogecoin in neutral territory but approaching oversold conditions, which could indicate a potential bounce if buyers emerge near current levels. However, the MACD remains in bearish territory at -0.0094, though the MACD histogram shows a slight bullish divergence at 0.0008, suggesting selling pressure may be moderating.
The Bollinger Bands analysis reveals DOGE trading near the lower band at $0.16, with the current %B position at 0.2198 indicating the token is in the lower 22% of its recent trading range. This positioning often coincides with short-term oversold conditions in trending markets.
Critical Price Levels for Dogecoin Traders
Immediate Levels (24-48 hours)
• Resistance: $0.18 (20-day SMA and previous breakdown support) • Support: $0.15 (psychological level and lower Bollinger Band)
Breakout/Breakdown Scenarios
A breakdown below the $0.15 support could trigger a test of the $0.10 strong support level, representing the 52-week low area where significant buying interest has previously emerged. Conversely, a reclaim of the $0.18 resistance would need to be sustained to signal a potential reversal of the current downtrend.
Upside targets if resistance clears include the $0.21 immediate resistance level, coinciding with the upper Bollinger Band and representing a 24% gain from current levels.
DOGE Correlation Analysis
Dogecoin continues to exhibit strong correlation with Bitcoin's price movements, following the broader cryptocurrency market's risk-off sentiment. While Bitcoin has shown relative strength compared to altcoins in recent sessions, DOGE price action remains heavily influenced by BTC's directional moves.
Traditional market correlation has been less pronounced in recent sessions, though the general risk-off sentiment affecting equity markets has contributed to reduced appetite for speculative cryptocurrency positions. The S&P 500's recent volatility has coincided with reduced institutional flows into meme tokens like Dogecoin.
Trading Outlook: Dogecoin Near-Term Prospects
Bullish Case
A sustained bounce above the $0.18 resistance level, accompanied by increased volume and Bitcoin stabilization, could target the $0.21 immediate resistance. The slightly positive MACD histogram suggests momentum could shift if buying pressure emerges at current oversold levels.
Bearish Case
Continued weakness below the $0.17 pivot point increases the probability of testing the $0.15 support level. A breakdown below this psychological support could accelerate selling toward the $0.10 strong support zone, representing additional downside risk of approximately 41%.
Risk Management
Conservative traders should consider stop-losses below $0.15 to limit exposure to further breakdown scenarios. Given the current daily ATR of $0.01, position sizing should account for continued volatility as DOGE price seeks to establish a new trading range following the recent technical breakdown.
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