- RSI has recorded an upward trend even while prices decline thus indicating possible market reversal.
- A negative histogram indicates bearish market momentum which might continue even if a trend shift occurs.
- Price movements will be influenced next by the $0.1785 resistance level along with the support at $0.1457.
Dogecoin (DOGE) has exhibited a notable bullish divergence on its 4-hour chart, indicating a potential reversal in its current downtrend. The current Dogecoin price currently trades at $0.1609 with a 8.8% decrease for the last 24 hours. The cryptocurrency has maintained key level prices between $0.1457 and $0.1785. The recent downward price trend of Dogecoin shows signs of reversal according to technical assessment signals.
In this case the bullish divergence signifies downward price movements for Dogecoin but the Relative Strength Index (RSI) reveals an upward trend. Even though price maintains a downward trajectory the weakening selling pressure points towards an upcoming price recovery.
Technical Indicators Hint a Bearish Signal
The MACD indicator presents a mixed outlook, with the MACD line at -3.73B, the signal line at -3.31B, and the histogram difference at -419.33M. The negative histogram indicates that the MACD line remains below the signal line, which generally suggests bearish momentum in the market.
Source:Tradingview
The RSI stands at 32.81,indicating bearish momentum, this reading suggests that DOGE is experiencing weak demand but is not in the oversold zone yet.
Key Levels and Future Outlook
At present Dogecoin trades near $0.1609 and its lowest point reached $0.1457. As bullish sentiment grows stronger the price might test resistance near $0.1785 followed by potential growth toward upper levels if expectations regarding this divergence play out correctly. Another wave of selling pressure might force the price to reevaluate its recent low point and possibly move beneath essential support areas.
Market sentiment and overall cryptocurrency trends will be key in deciding whether Dogecoin can stage a real comeback. If buying volume picks up, we might see a short-term price rebound, but a true trend reversal will need further confirmation before it’s certain.
