Dogecoin Price Turns Bullish With 1-Day RSI In Oversold Region, Why DOGE Can Reach $0.9

This article discusses the recent bearish momentum of Dogecoin, with its price struggling around $0.2 after breaking below critical resistance levels. However, there is a technical analysis suggesting a potential reversal towards an ambitious $0.90 price target. The article highlights the current RSI signals and chart patterns indicating a possible buying opportunity, similar to past price bottoms for Dogecoin.

Furthermore, the article mentions Dogecoin’s trading within a Channel Up pattern and its current position near the lower boundary of the channel, where past bounces have triggered recoveries. The oversold 1-day RSI and historical trends point to a potential rally in the coming weeks, with a target of $0.90 derived from Fibonacci extensions.

Despite the technical target, achieving $0.90 may be challenging due to bearish pressure on Bitcoin affecting the overall market sentiment. Dogecoin’s support levels are under pressure, and failure to hold could lead to a deeper retracement. At the time of writing, Dogecoin is trading at $0.1972.

Overall, the article provides insights into the technical analysis of Dogecoin’s price movements and potential scenarios for future price action.