Dogecoin Price Faces Bearish Pressure as RSI Drops Below 50%
Dogecoin is currently experiencing bearish momentum, indicated by the Relative Strength Index (RSI) falling below the neutral 50% level. Key points include:
- RSI indicates increasing selling pressure and declining bullish interest.
- The $0.3 support level is critical; a failure to hold may lead to further declines.
- Trading focus is on whether DOGE can maintain its position at $0.3.
- Recent drop below the 4-hour Simple Moving Average (SMA) reinforces the bearish outlook.
- A break below $0.3 could open the market to lower support levels, with $0.26 as the next key zone.
- If bulls defend the $0.3 level, it may allow for consolidation or recovery attempts.
Monitoring price action around these support levels will be essential for assessing Dogecoin's near-term trajectory.
