DOGE is currently oversold with an RSI below 30, indicating potential for a short-term bounce. The price has dropped significantly in the last 24 hours and is below both short and long-term moving averages, suggesting bearish momentum. High volume during the decline shows strong selling pressure.
Current Market Condition
DOGE is trading at $0.23865, down 11.31% in 24 hours. The RSI is extremely low at 12.33, which typically indicates oversold conditions where prices might temporarily rebound.
Support and Resistance Levels
Recent local support levels are around $0.26377, while resistance is near $0.26884. The current price is below these levels, showing weakness but potential for a bounce to test resistance.
Moving Averages
The price is below both the 20-day SMA ($0.25808) and 50-day SMA ($0.26341), confirming the downtrend. A break above these could signal a trend reversal.
Trading Strategy
Consider buying near recent support at $0.24000 for a potential bounce. Set a sell target at $0.26500, which is near previous resistance. Use stop-loss orders to manage risk due to high volatility.
Beginner Recommendations
Advice: hold
Buy Price: 0.24 USDT
Sell Price: 0.265 USDT
Key metrics
| Price | 0.2387 USDT |
| 24h Change | -11.31% |
| RSI(14) | 12.33 |
| SMA20 / SMA50 | 0.26 / 0.26 |
| Daily Volatility | 4.12% |
| Sentiment | Bearish |
| Risk level | High |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
