Dogecoin's price is approaching the key level of the 4-hour RSI that triggered a 70% rebound previously.

After a strong rise in July, Dogecoin's price has retreated like many other assets. Bears seem to have regained control of the market, and after breaking through the key level of $0.2, the price has declined further. However, despite investors remaining optimistic, the current decline appears relatively limited, and it is generally believed that this is just a phase of adjustment.

Dogecoin's price still shows bullish signals.

According to crypto analyst KrissPax, despite the recent decline in Dogecoin's price, there is still room for growth. As a typical meme coin, it is in a bullish formation and is testing a key support area that previously triggered a significant rise.

The analyst particularly mentioned that Dogecoin's price is expected to again cause the 4-hour RSI to fall below 30, and historical data shows that whenever the RSI reaches this level, it is often accompanied by a strong rebound. The last time this occurred was in June 2025, when the price rebounded over 70% within the following month.

Based on previous trends, if Dogecoin once again touches below 30 on the 4-hour RSI, it is likely to experience a similar rebound. The only difference is that this time the price is at a higher position, which also means that future peaks are expected to be higher.

The last time the RSI dropped to such a low point, the price was around $0.14, whereas this time it has fallen to $0.2, indicating a rise in the low point. A rise in the high and low points usually signifies that subsequent highs will also rise.

If Dogecoin's price rises another 70% from the current level, it is expected to rebound to a high of $0.34, after which momentum may weaken. However, this level is still more than half lower than its historical peak of $0.74. This historical high was reached in 2021, and it remains the pinnacle for this meme coin.

Regarding the performance of altcoins this month, after Dogecoin experienced a 27.1% rise at the end of July, it has begun to give back some of those gains. According to CryptoRank data, Dogecoin has cumulatively fallen by 5.31% this month, but overall it still maintains a certain upward trend.

This situation is not uncommon, as August has historically been one of the months where Dogecoin performs poorly. If the current trend continues, Dogecoin investors may face an average loss of about 10% this month, ultimately closing with negative returns.