DOGE Weekly Chart Shows Oversold Conditions at $0.13 Level

Dogecoin is flashing oversold signals on the weekly chart, based on recent momentum readings. The Double Smoothed Stochastic indicator has dropped into oversold territory, with the indicator lines hovering near the lower boundary while DOGE trades around $0.13.

The weekly price action tells a story of fading momentum. After rallying to much higher levels earlier, Dogecoin entered a lengthy consolidation and decline phase marked by lower highs and weaker weekly closes. Rather than crashing suddenly, the price has been grinding lower in a gradual bleed that’s steadily eroded bullish momentum. Now it’s finding some stability near recent support zones.

“The Double Smoothed Stochastic indicator on the DOGE weekly chart has moved into oversold territory,” according to recent technical analysis.

The momentum indicator in the lower panel is sitting at levels that historically signal oversold conditions on higher timeframes. This means selling pressure has been persistent enough to push momentum readings to multi-week lows. While oversold doesn’t automatically mean a bounce is coming, it does show that the downside move is getting stretched compared to previous weekly cycles.

Why does this matter for crypto overall? Dogecoin tends to serve as a temperature check for speculative activity across the market. When DOGE shows oversold conditions on weekly charts, it often coincides with periods where downside momentum is running out of steam and the market becomes more reactive to sentiment shifts. With DOGE still stuck in a corrective pattern, how price behaves around these oversold levels could ripple through the memecoin space and influence short-term volatility across digital assets.

My Take: This looks like classic late-stage correction behavior where momentum indicators reach extremes before reversals materialize. The $0.13 level could act as a pivotal zone if buyers step in, but without broader market support, DOGE might just chop sideways.

Source: Surf