Recently, Dogecoin's price has retreated to the familiar support range of $0.168 to $0.172, a region that has repeatedly served as a springboard for price increases in the past. According to the latest 4-hour candlestick chart, Dogecoin is approaching this critical support level, having successfully rebounded here earlier this month. Although the current price shows a downward trend, technical indicators suggest the possibility of a bullish reversal, with the Relative Strength Index (RSI) trending indicating that momentum may be shifting.
The support zone has been tested multiple times; can the rebound pattern be repeated?
In the past ten days, Dogecoin's 4-hour candlestick chart clearly outlines a key support area where the price has quickly stabilized and rebounded after touching the $0.1663 to $0.1720 range three times. Cryptocurrency analyst Trader Tardigrade was the first to point out this pattern, and the current price has re-entered this area, sparking heated discussions in the market about whether the rebound pattern will repeat.
Historical data shows that every time the price falls to this range, buying interest significantly increases, driving the price back up. Although Dogecoin has been in a downward trend since its peak of $0.207, this support level has remained solid to date.
More importantly, the technical structure of the RSI deserves attention. Although the price is forming lower lows, the RSI is showing higher lows, creating a potential bullish divergence. This divergence indicates that the internal momentum of the market may be shifting towards buyers, providing technical support for a rebound.
Analysts further point out that the RSI has consistently maintained its ascending support line, preventing the price from breaking below critical lows. If external factors (such as the situation in the Middle East) do not disrupt market sentiment, this support may pave the way for a Dogecoin rebound.
Third support test: rebound or breakdown?
Currently, Dogecoin is facing its third support test, and the market is watching whether it can continue the rebound trend of the previous two tests. If it rebounds successfully, the price is expected to break through the $0.2 mark and regain upward momentum.
However, if the RSI breaks below the ascending support line and the price falls below $0.166, the bullish outlook may turn into a confirmed breakdown in the short term, with the price potentially dropping further. As of the latest data, the trading price of Dogecoin is $0.1738, down 2.4% in the past 24 hours, but the price remains above the lower limit of the support zone, and the RSI has not reached the critical support line, keeping hope for a rebound this month.
Recently, Dogecoin's price has retreated to the familiar support range of $0.168 to $0.172, a region that has repeatedly served as a springboard for price increases in the past. According to the latest 4-hour candlestick chart, Dogecoin is approaching this critical support level, having successfully rebounded here earlier this month. Although the current price shows a downward trend, technical indicators suggest the possibility of a bullish reversal, with the Relative Strength Index (RSI) trending indicating that momentum may be shifting.
The support zone has been tested multiple times; can the rebound pattern be repeated?
In the past ten days, Dogecoin's 4-hour candlestick chart clearly outlines a key support area where the price has quickly stabilized and rebounded after touching the $0.1663 to $0.1720 range three times. Cryptocurrency analyst Trader Tardigrade was the first to point out this pattern, and the current price has re-entered this area, sparking heated discussions in the market about whether the rebound pattern will repeat.
Historical data shows that every time the price falls to this range, buying interest significantly increases, driving the price back up. Although Dogecoin has been in a downward trend since its peak of $0.207, this support level has remained solid to date.
More importantly, the technical structure of the RSI deserves attention. Although the price is forming lower lows, the RSI is showing higher lows, creating a potential bullish divergence. This divergence indicates that the internal momentum of the market may be shifting towards buyers, providing technical support for a rebound.
Analysts further point out that the RSI has consistently maintained its ascending support line, preventing the price from breaking below critical lows. If external factors (such as the situation in the Middle East) do not disrupt market sentiment, this support may pave the way for a Dogecoin rebound.
Third support test: rebound or breakdown?
Currently, Dogecoin is facing its third support test, and the market is watching whether it can continue the rebound trend of the previous two tests. If it rebounds successfully, the price is expected to break through the $0.2 mark and regain upward momentum.
However, if the RSI breaks below the ascending support line and the price falls below $0.166, the bullish outlook may turn into a confirmed breakdown in the short term, with the price potentially dropping further. As of the latest data, the trading price of Dogecoin is $0.1738, down 2.4% in the past 24 hours, but the price remains above the lower limit of the support zone, and the RSI has not reached the critical support line, keeping hope for a rebound this month.
