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Analyst: DOGE Below Key Weekly Moving Averages
A cryptocurrency analyst has warned that Dogecoin (DOGE) could slide to $0.06 after technical indicators on the weekly chart flashed continued downside risk. The TradingView chart shared by the analyst — using Coinbase price data — shows DOGE trading beneath several critical moving averages, keeping the weekly structure bearish until buyers reclaim those levels.
Moving averages underline bearish momentum
According to the chart, DOGE sits below the weekly 8-period EMA, 34-period EMA, 50-period SMA and 200-period SMA. When price remains under near-term and medium-term trend references like these EMAs and SMAs, it signals persistent selling pressure for traders relying on moving averages and trend-following strategies. The analyst says reclaiming the EMA 8 on the weekly timeframe would be an important first step to invalidate the downside thesis.
Bollinger Bands and low volume increase downside odds
Bollinger Bands on the weekly timeframe place Dogecoin closer to the lower band than the midline, consistent with bearish volatility and band pressure pushing price lower. Compounding this technical picture, on-chain and exchange data visible in the chart indicate low trading volume during the recent drop — a classic sign that rallies lack conviction and that further declines are possible.
Price action: break below October crash low and key support
The chart highlights that DOGE has slipped below the Oct. 10 crash low. The analyst identifies the next meaningful support near a price area visited three weeks ago, which also coincided with the August 2024 bottom — a prior weekly demand zone that could act as a floor if selling intensifies. If volume remains weak and lower Bollinger Band pressure persists, the analyst projects a continuation scenario targeting $0.06.
What traders should watch
Traders tracking Dogecoin should monitor weekly EMA and SMA levels, Bollinger Band positioning, and volume trends. A sustained break and close below the August 2024 level would strengthen the bearish case, while a weekly reclaim of EMA 8 could shift momentum back toward buyers. Use risk management and consider multiple timeframes — combining on-chain metrics, moving averages, and volatility indicators — before taking a directional position on this memecoin.
Dogecoin, originally created as a satirical cryptocurrency, continues to rank among the most actively traded memecoins by market cap and volatility, making it a focal point for short-term technical traders and crypto investors watching moving averages, Bollinger Bands, and volume signals.
Source: crypto
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