Dogecoin Displays Bullish Divergence and Key Support Levels
Dogecoin (DOGE) shows potential bullish signals after a prolonged downtrend. Currently priced at $0.16979, the 14-period relative strength index (RSI) is at 35.72, indicating it is near oversold levels.
Key Observations
- Price exhibits regular bullish divergences; lower lows in price with higher troughs in RSI.
- Previous divergences in August 2024 and March-April 2025 preceded significant price increases of nearly 300% and 100%, respectively.
- DOGE is currently retesting a former resistance line now acting as support at approximately $0.163.
- A critical multi-year ascending trendline sits around $0.142, with further support at $0.139.
- Resistance levels include Fibonacci retracement at $0.1826, with additional hurdles at $0.247, $0.292, $0.338, and $0.3939.
- Volume is decreasing as DOGE approaches support, with RSI showing slight improvement.
- A daily close below the multi-year trendline could lead to a drop toward $0.135 to $0.130, with a potential low around $0.10.
