Dogecoin price analysis (Bearish) — 0.17 USDT (-8.00% 24h)

DOGE is showing significant technical weakness as price hovers at $0.1726, down nearly 8% in the past 24 hours. The RSI reading of 20.45 indicates severely oversold conditions, typically suggesting potential for a short-term bounce. However, the current price sits below both the 20-day SMA ($0.1815) and 50-day SMA ($0.1848), confirming the bearish trend structure. Trading volume remains elevated at $169 million, suggesting continued institutional interest despite the price decline. The high volatility reading of 3.73% indicates significant price swings are likely to continue. For traders, consider scaling into long positions near current levels with tight stop losses below $0.168, targeting a rebound toward the $0.180 resistance zone. Short-term traders might find opportunities in volatility plays, but position sizing should remain conservative given the overall bearish momentum.