Dogecoin (DOGE) is currently trading at $0.167, up 2.5% today. This follows a significant pullback from its December high of approximately $0.47, a trend mirrored across the broader cryptocurrency market.

Crypto analyst Ali Martinez has highlighted a key indicator suggesting a potential Dogecoin comeback. The Stock RSI on DOGE's chart has fallen below 20, indicating oversold conditions. Crucially, the indicator's lines appear poised for a bullish crossover, a pattern preceding price rebounds in October 2023 and February 2024. Prior to this recent decline, DOGE experienced a remarkable 444% surge from roughly $0.09 to nearly $0.50.

Key DOGE Price Levels:

Currently, DOGE is testing support between $0.14 and $0.15. Holding this level could propel it towards $0.20-$0.22 (former support, now resistance). Further resistance lies around $0.30-$0.35, with the $0.50 peak representing a significant hurdle. Failure to hold current support could see prices drop towards $0.10-$0.12, or even the $0.085-$0.09 support zone.

Martinez tweeted, “DOGE could be gearing up for a major rebound as the Stock RSI nears a bullish crossover. Momentum is shifting!” This aligns with chart patterns suggesting potentially overextended selling.

While technical analysis hints at a potential rebound, remember that cryptocurrency prices are influenced by numerous factors beyond chart patterns. However, if Martinez's analysis proves accurate, this might present an opportune moment for DOGE accumulation.

The post Time to Buy Dogecoin? Analyst Predicts DOGE Price Is Gearing Up for a Rebound appeared first on CaptainAltcoin.