Dogecoin joined other digital assets as they braced the Trump effect that pointed to the placed tariffs. DOGE traded at $0.1649 recording a 1.73% surge in a single day. Analysis indicate that the ability to maintain the $0.16 support level will be crucial for a potential rally.
Technical analysis: MACD and RSI indicators
For the MACD indicator, the bearish outlook has been evident by the MACD line at -0.0082 and the signal line at -0.0088. The histogram, positioning the relationship between MACD and signal lines, seems to depict negative bars. This is indicative of weak momentum for the present moment. However, the difference between the MACD and the signal line continues to contract, which might suggest an impending bull call if it crosses the signal line.
The RSI index for DOGE stands at 43.86, indicating that Dogecoin is approaching the oversold zone. An RSI below 30 is typically a sign of oversold conditions, but 43.86 suggests there is still room for price action. If the RSI continues to rise, it may signal increased buying pressure, which could push the price of DOGE higher.
What is the current Dogecoin price action?
Dogecoin is showing signs of stability above the $0.16 level. On April 4, 2025, its price fluctuated between $0.1561 and $0.1674. The price at 16:00 GMT+3 was $0.1642, with a high of $0.16434 and a low of $0.16308. The market capitalization stands at approximately $24.57 billion, with a 24-hour trading volume of $1.38 billion. The circulating supply is around 148.7 billion DOGE.
Dogecoin is continuing to operate at that level and people are focusing on its ability to stay above $0.16 for a broader movement. It could help to define its dynamics in the short term for the crypto market. As it stands, some bearish pressure appears to manifest; however, $0.16 acts as the crucial level of support. A reversal of this trend may cause a rally, and thus, April 5 movements would define Dogecoin’s price action.
