The post Dogecoin Faces Sell-Off Pressure Amid Declining Volume but Bollinger Bands Suggest Possible Rebound appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE), the leading meme cryptocurrency, is currently experiencing a notable sell-off, with trading volume dropping by over 51%, signaling a potential shift in market dynamics. Despite the decline in trading activity, technical indicators such as Bollinger Bands suggest that DOGE may be approaching an oversold condition, hinting at a possible price reversal soon. According to COINOTAG sources, the current market setup often precedes significant price movements, making Dogecoin a key asset to watch in the coming days. Dogecoin faces sell-off pressure with a 51% volume drop, but Bollinger Bands signal a potential rebound as market interest shows early signs of returning. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Dogecoin Near Oversold Territory: Technical Indicators Signal Potential Rebound Recent data from CoinMarketCap reveals that Dogecoin’s short-term Bollinger Bands, based on a nine-day moving average, are trading below the 21-day average. This positioning places DOGE at the lower boundary of the Bollinger Bands, a classic indicator that the asset is nearing oversold conditions. Such technical setups often precede a reversal in price trends, suggesting that the current bearish momentum may soon wane. The contraction of the Bollinger Bands around DOGE highlights reduced volatility, which typically occurs before a breakout or significant price movement. This technical pattern, combined with the oversold signal, indicates that Dogecoin could experience a price correction or recovery phase shortly. ‘, ‘ 🔒 Secure and Fast…

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Filed under: News - @ June 7, 2025 2:18 pm