Dogecoin trades near $0.093, just above its 200-day moving average, but faces a stack of resistance levels before it can retest $0.10. The setup comes as Bitwise prepares to shut down its Dogecoin ETF, BWOW, with a final trading day expected October 14.
Dogecoin changed hands at $0.093269 at 04:50 EDT on October 4, sitting just above a cluster of moving-average support. Its October 2 range ran from roughly $0.0903 to $0.0980, after the token had rebounded sharply on September 21 before being rejected near $0.10.
BWOW closure adds a sentiment overhang
Bitwise said on September 10 it would liquidate the Bitwise Dogecoin ETF, BWOW, with the fund's expected final trading day set for October 14 and distributions to remaining shareholders expected around October 22. The fund held about $688,000 in net assets as of September 9, which limits the likely scale of any direct market flow. Still, the shutdown removes a listed fund vehicle and may weigh on near-term sentiment.
Momentum is neutral, not confirming a breakout
A September 30 reading put daily RSI at 56, a neutral-to-constructive level, with DOGE sitting above the 200-day exponential moving average near $0.0932 and the 20-day EMA near $0.0921. A separate daily composite cited by Blockspot put RSI at 53.6 and read the broader technical picture as neutral. Together, the figures point to momentum that is neither oversold nor decisively bullish.
DogeOS opened its public testnet on September 30, adding an EVM-compatible application layer for Dogecoin. The launch supports the development narrative, but it remains a testnet event rather than a mainnet rollout, so it does not resolve the resistance sitting just above spot.
The path to $0.10 runs through two resistance levels first
DOGE must first clear $0.0937, then $0.0986, before it can properly test the psychologically important $0.10 mark, which opens a broader $0.1000-$0.1060 resistance zone. On the downside, losing the $0.0932-$0.0940 support zone would put the 20-day EMA at $0.0921 under pressure, with the October 2 swing low of $0.0903 as the next reference point below that.
A retest of $0.10 remains plausible but conditional rather than imminent, contingent on DOGE holding its current support and then breaking both resistance levels above it. Meanwhile, BWOW's expected October 14 exit may still weigh on near-term sentiment.
Source: Crypto Daily™
Trading involves risk.
Risk Disclaimer
