Dogecoin price slides 3.37% as midweek rally fades
Dogecoin drops 3.37% to $0.1670
Dogecoin cryptocurrency started this week on a shaky footing, as it struggled to extend last week’s bullish rally.
That rally had broken a run of five consecutive bearish weeks, giving traders a reason to hope for a sustained upward move. However, this week opened on a weaker note as Dogecoin slipped early to a nine-day low at $0.1566. The decline suggested that the recent optimism was fragile and that sellers were quick to reclaim control.
- Dogecoin drops 3.37% to $0.1670 after failing to sustain midweek rally
- RSI signals tilt bearish while price holds fragile support on 50 EMA
- Volume spike earlier this week failed to secure lasting gains
But during the midweek, the narrative briefly shifted. Dogecoin regained upside momentum, supported by a surge in trading volume, which surpassed levels seen over the past ten days. This push helped erase the early losses and even propelled Dogecoin to a two-week high at $0.1755 yesterday. The volume surge signalled strong short-term interest from buyers who saw value at lower levels.
DOGE price dynamics (May 2025 - July 2025). Source: TradingView
Despite the midweek recovery, Friday brought a fresh setback. As of today’s North American session on July 4, Dogecoin has dropped to around $0.1670, reflecting a daily loss of 3.37%. This sharp decline not only wiped out the week’s gains but also turned the week-to-date performance into a loss of about 2%. The price decline today was softened at the $0.1650 support level, where the 50 EMA on the four-hour chart offered technical backing.
Dogecoin 4hr RSI stays neutral while daily RSI confirms bearish bias
Technical indicators highlight the current uncertainty in market sentiment. The RSI on the four-hour chart sits in neutral territory, indicating a lack of clear conviction among traders for a continued move in either direction. Meanwhile, the daily RSI has dipped slightly into bearish territory. This suggests a higher likelihood of a breakdown below the $0.1650 support area if selling pressure persists.
Looking ahead, the next sessions will be crucial for Dogecoin. If the price manages to hold above $0.1650 and attract renewed buying interest, a recovery attempt could take shape, potentially pushing the price back toward $0.1755. However, a confirmed break below $0.1650 could trigger a deeper move lower in line with the broader market weakness observed earlier this week.
The failure to build on last week’s bullish momentum and the struggle to maintain gains from the midweek rally reflect an overall fragile sentiment around Dogecoin. The balance between volume-driven rebounds and pressure from bearish momentum indicators will determine if Dogecoin can regain stability or face additional declines.
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