- Dogecoin’s RSI hit 28.35 on February 19, signaling an oversold state. DOGE is trading at $0.089.
- DOGE’s 24-hour trading volume surged to 4.3B from 3.1B DOGE, indicating heightened market interest.
- A bullish MACD crossover at 2:00 PM UTC hints at growing momentum, supporting a potential price recovery.
Dogecoin is approaching a crucial phase as it hovers near $0.25112, with the Relative Strength Index (RSI) indicating oversold conditions. Trader Tardigrade mentioned in X post that Dogecoin’s 4-hour RSI entered the oversold zone, signaling a potential short-term rebound.
On February 19, 2025, Dogecoin’s RSI value dipped to 28.35, signaling that the asset might be undervalued and poised for a correction. At this moment, DOGE was trading at $0.089, down 7.2% from its previous day’s price of $0.096. The increased trading volume indicates growing speculation.
The 24-hour trading volume leading up to this RSI reading surged to 4.3 billion DOGE, a significant rise from the 3.1 billion DOGE recorded on February 16. This spike in trading activity suggests heightened market attention, potentially fueling a price movement. Historical patterns show that similar conditions often precede strong price recoveries.
Bullish Momentum Strengthens Dogecoin’s Position
Dogecoin’s price action reflects renewed bullish momentum despite recent volatility. The meme coin has rebounded, breaking key resistance levels and attracting strong buyer interest. If market conditions remain favorable, DOGE could continue its upward trajectory, possibly reversing its recent downtrend and pushing toward new local highs in the coming days.
Following fluctuations, DOGE surged past the $0.2512 resistance level, reaching a high near $0.2530. The increased buying pressure signals growing confidence among investors. If this momentum sustains above critical support zones, Dogecoin may witness further gains, reinforcing its potential for a broader market recovery.
The trading implications of Dogecoin’s RSI dip are significant, as traders often see an RSI below 30 as a buy signal. By February 18, DOGE experienced an uptick to $0.091, reflecting initial buying pressure. This movement was accompanied by a 2.7 billion DOGE trading volume, reinforcing continued market interest.
Beyond RSI, additional technical indicators suggest further potential gains for Dogecoin. The Moving Average Convergence Divergence (MACD) signaled a bullish crossover at 2:00 PM UTC, with the MACD line crossing above the signal line. This suggests growing momentum, reinforcing the possibility of a continued price recovery for DOGE.
Dogecoin’s 50-day moving average stood at $0.094, while the 200-day moving average was at $0.088, suggesting strong support for the latter. Bollinger Bands showed DOGE touching the lower band at 3:00 PM UTC, another sign of oversold conditions. These metrics and rising trading volumes point to a potential short-term rebound.