Dogecoin RSI Signal Returns—Last Time It Sparked a 1,700% Rally

Dogecoin Analysis

  • Dogecoin's monthly chart suggests a potential rally, with the stochastic RSI (stoch RSI) poised for an upward cross but not yet above the critical 20 threshold.
  • Previous similar setups, where stoch RSI crossed above 20, resulted in massive rallies—1,852% gain in 2017 and 1,751% subsequently.
  • The current cycle is showing a cleaner sequence, with earlier advances of 280% and 497% after confirmed stoch RSI crosses.
  • A new stoch RSI cross is forming, but significant bullish movement typically occurs once it surpasses the 80 level.

Dogecoin price analysis

  • Key technical indicators include RSI crossing above its moving average at inflection points and defending a long-term trend line with higher lows.
  • Macro conditions, especially US monetary policy, play a crucial role. Rate cuts could lead to altcoin dynamics favoring Dogecoin, while hawkish policies or inflation increases pose risks.
  • Seasonality indicates potential near-term volatility, with the Federal Reserve's upcoming meeting influencing market sentiment.

Dogecoin currently trades at $0.261, with the charts indicating potential for a larger move upwards if the momentum indicators align positively.

Dogecoin price