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Modern analysis of Dogecoin on TradingView The most prominent a Possible scenario where Dog can decrease to less than $ 0.165 before recovery. The analyst, who is reviewing the candlestick scheme for 4 hours, pointed to the very excessive RSI levels as a basis for this look. Although the bounce appears to be the most likely result, there is still a 30 to 40 % chance of a short -term decrease In a deeper support area.
Dogecoin Rsi decreases less than 10 on the graph for 4 hours to extend the decrease
RSI is a technical analysis index used Measuring the momentum of assets. When it exceeds 70, the original is considered at the peak peak, which means that it may be due to the price correction or decline. On the other hand, readings are less than 30 years, which means that the original may be less than its value and It can bounce up soon.
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In the case of Dogecoin, Meme has been under intense sale of sale since the beginning of March. This selling pressure has seen that it loses most of its price gains in late 2024 and breaks without the pressure of the noticeable support. This, in turn, witnessed a decrease in the relative strength index towards excessive sale levels across multiple time frames.
According to the general technical view, the relative strength index on the time frame ranges for one hour between 25 and 27, indicating strong arduous conditions. On the graph for 4 hours, RSI decreased to less, and falls below 10, which usually indicates that the original is due to a corrective reflux. The daily RSI currently hovers about 32 to 33, and is still over the excessive sale area but is heading down. These readings indicate that although there is a declining pressure, a preparation that bounces of excessive sales levels is increasingly preferred to recover as buyers look forward to returning near support.
The analyst sees about 0.172 dollars – $ 0.175 as a more likely result
According to the analyst, the relative power index break under excessive sales levels It indicates a decrease Towards a support zone of $ 0.1580 and $ 0.1590. Although the subsidy zone can drop 0.1580 dollars to $ 0.1590, the analyst noted a higher probability (about 60 to 70 %) of A. Return the relative After reaching this support zone, it may target $ 0.172 to $ 0.175.
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The projection depends on the possible reaction of Dogecoin at the depth of the excessive RSI level. The analyst emphasized that this is an assumption and not a financial advice, but the technical context supports the possibility of mobilization of relief if support continues.
At the time of this report, Dogecoin is traded at $ 0.1649, a decrease of 3.6 % over the past 24 hours. With both the negative side and Al -Trea direction scenariosDOGECOIN price procedure in the short term now depends on how the market interacts at the current level of $ 0.165. The move can reveal about $ 0.172 or higher if buyers are currently entered. However, if the sale continues, Dogecoin may continue to decrease throughout the week before trying to recover.
Distinctive image from Unsplash, Chart from TradingView.com
The post Pundit Gives Dogecoin Price 30-40% Chance Of Crash To $0.165 As RSI Enters Oversold Levels first appeared on Investorempires.com.
