The post Is DOGE Ready for a Rebound or More Decline? appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE), one of the most recognized meme coins in the crypto market, has been on a downward trajectory after reaching a significant high in late 2024. Currently, the price is hovering around $0.2025, showing signs of oversold conditions as indicated by the Relative Strength Index (RSI), which has dipped below 30. This raises an important question: Is DOGE primed for a rebound, or is the downtrend far from over? To answer this, we will analyze the key support and resistance levels, technical indicators, and potential scenarios for the coming weeks. Dogecoin Price Prediction: How Is Dogecoin Performing Right Now? DOGE/USD Daily Chart- TradingView Dogecoin’s price action reveals a consistent decline from its peak near $0.45, with multiple lower highs and lower lows forming on the daily chart. The recent bounce from $0.20 suggests an attempt by buyers to hold support, but the overall trend remains bearish. One of the biggest concerns is the weak buying pressure, as seen in the volume profile. Despite minor upward movements, DOGE has struggled to maintain bullish momentum, signaling that sellers still dominate the market. However, with the RSI deep into oversold territory, a relief bounce could be imminent. Is DOGE in Oversold Territory? What Does RSI Indicate? A major factor indicating a potential price rebound is the Relative Strength Index (RSI). The RSI is currently at 22.32, well below the 30 threshold, which suggests that DOGE is deeply oversold. Historically, whenever Dogecoin’s RSI has dropped to these levels, a short-term bounce has followed. However, an oversold RSI alone doesn’t guarantee a price recovery. The market needs increased buying pressure, and DOGE must reclaim key resistance zones to confirm a reversal. If RSI stays below 30 for an extended period, it may indicate continued weakness, with DOGE potentially heading towards $0.18 or lower before…

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Filed under: News - @ March 1, 2025 3:20 pm