#ReboumdRally

Dogecoin is reaching a critical moment as it hovers near the $0.3563 mark, with the Relative Strength Index (RSI) indicating oversold conditions. This suggests that the recent sell-off may have brought the asset into undervalued territory, increasing the likelihood of a rebound.

However, it remains to be seen whether bulls can seize this opportunity to drive a recovery. With the [market](https://www.newsbtc.com/news/dogecoin/dogecoin-crypto-crash-looks-incredible/) showing signs of fatigue, $0.3563 emerges as a crucial level to watch. The price reaction in the upcoming sessions could set the tone for Dogecoin's next significant move.

Understanding the current price action and the RSI overbought signal

The current price action reveals that Dogecoin, despite trading below the 100-day simple moving average (SMA), is showing promising signs of bullish momentum. The meme coin has briefly regained strength, hinting at a potential upward trajectory as it attempts to challenge higher resistance levels. Notably, this movement suggests that buyer interest is gradually increasing, which could lay the groundwork for a sustained recovery if key levels are breached.