Dogecoin Could Rebound with RSI

Oversold at $$ 0.32849

Dogecoin (DOGE) is nearing a critical point around $$ 0.32849, while the RSI (Relative Strength Index) is signaling an oversold condition.

This scenario could indicate a temporary undervaluation, suggesting a recovery is on the horizon.

Key Takeaways:

1. Resilience at Support: DOGE is holding at the 100-day SMA, showing that bulls are trying to regain control.

2. RSI at 30%: Readings below 30%
usually attract buyers back into the market.

3. Upcoming Levels:

• Resistance at $$ 0.4484 in case of recovery.

• Support at US$ 0.1800 if selling pressure persists.

While a quick recovery is not guaranteed, market momentum and the upcoming sessions will be crucial in determining the price direction. If buyers take advantage of the momentum, Dogecoin could return to the uptrend.

Recovery or Rally?

With the RSI oversold, DOGE’s next moves will depend on market forces. A positive breakout could lead to a rally, but if selling pressure continues, further declines may be inevitable.

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