Dogecoin RSI Has Crashed To Lowest Level Since Launch, Analyst Predicts Next Target
Crypto analyst Cryptollica has revealed that the Dogecoin Relative Strength Index (RSI) has crashed to its lowest stage since its launch. The analyst additionally predicted that this would possibly mark the underside for the foremost meme coin, with a bullish reversal on the horizon.
Dogecoin RSI Hits All-Time Low Since Launch
In an X post, Cryptollica acknowledged that the Dogecoin RSI has hit its lowest stage in 12 years and is totally oversold. The analyst famous that, after eradicating all social sentiment and meme narratives, DOGE’s 2-week chart reveals probably the most “extreme structural anomalies at the moment seen available in the market.”
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Cryptollica’s chart additionally highlighted what marked the macro backside for Dogecoin in earlier cycles and the way this can be the underside for the meme coin on this cycle. The analyst famous that the DOGE value has now compressed to the precise structural baseline that precedes main macro expansions, suggesting a bullish reversal could also be on the horizon.
The analyst talked about that this seems to be the “absolute oscillator ground” because the Dogecoin RSI is at an all-time low. Cryptollica alluded to the underlying momentum indicator, noting that the 2-week RSI has hit the 34 threshold. He added that the present downward momentum is mathematically weaker than it was throughout the 2015 bear market and the 2020 COVID crash. In the meantime, promoting stress is totally exhausted.
In one other X post, Cryptollica highlighted a channel from 2021 up till now. The analyst’s accompanying chart confirmed that Dogecoin may nonetheless rally to as excessive as $1.3, which is the highest of the road. The midline goal for the foremost meme coin is $0.3. The chart additionally advised that DOGE may see a bullish reversal between now and July later this yr.
DOGE Bouncing From Oversold Degree
Crypto analyst Dealer Tardigrade acknowledged in an X post that Dogecoin has simply bounced from the RSI oversold zone and is heading again to the highest. His accompanying chart confirmed that DOGE may rebound to $0.12 because it bounces from this oversold zone. It’s price noting that the meme coin, nevertheless, continues to face promoting stress amid the crypto market sell-off on account of the Trump tariffs.
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In one other X post, Dealer Tardigrade famous that Dogecoin has shaped a second base on the weekly chart. A pump adopted base 1, and he once more expects one other pump to comply with base 2. His accompanying chart confirmed that DOGE may first rally to $0.4 between now and July, then see a corrective transfer earlier than it rallies to $1 by subsequent yr.
On the time of writing, the Dogecoin value is buying and selling at round $0.09116, up nearly 2% within the final 24 hours, in keeping with data from CoinMarketCap.
Featured picture from Getty Photographs, chart from Tradingview.com
