Dogecoin Technical Signals Attract Attention Amid Weak Performance
- Technical Outlook: Analyst Hailey notes that Dogecoin is still within an extended corrective pattern, with the current pullback viewed as the final leg of Wave IV since its 2021 peak, suggesting a potential rebound to the $1.00 to $1.10 range, representing over a 1,090% upside.
- RSI Levels Echo History: Trader Tardigrade highlights that Dogecoin's weekly RSI has returned to levels seen during previous market bottoms, similar to the 2022 bear market when prices surged approximately 886%, indicating a possible move towards the $0.70 region if the pattern repeats.
- Increase in Long Positions: Expert CW observes a significant rise in long positions on BitMEX since June 24, with open interest growing from about 1 billion to nearly 1.7 billion contracts, indicating increased bullish sentiment among investors.
- Critical Support Testing: Dogecoin is currently trading near the critical $0.07 support area, and whether this level can be maintained is expected to play a decisive role in determining the short- and medium-term trend, with potential risks of intensified selling pressure if resistance levels are not breached.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0652 | 0.0698 | 0.0742 | 0.0788 | 0.0831 | 0.0878 |
| Fibonacci | 0.0652 | 0.0686 | 0.0707 | 0.0742 | 0.0776 | 0.0797 | 0.0831 |
About DOGE
About the author
