Dogecoin has seen a steady uptrend for the last 7 days as the asset keeps its value above the $0.16 range. Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators suggest that DOGE may continue its recovery trend.
Dogecoin recovery: RSI and MACD signals bullish trend
The RSI is at 34.83, which is slightly above the oversold threshold of 30, meaning that DOGE is in an oversold territory. This gives an indication that the price could begin an upward trend in the future, as RSI values below 30 are regarded as a buy signal. The RSI indicator appears to have moved into a consolidation phase; therefore, a price rally could occur soon.
On the MACD front, the chart displays a negative MACD value of -0.01902, which reflects a bearish trend. However, the MACD histogram bars are becoming smaller, signaling a weakening of the selling pressure. The MACD line is close to crossing the signal line, which could indicate a bullish reversal if the lines cross.
This aligns with the idea that DOGE’s current downtrend might be nearing its end, and the token may resume its recovery. A relatively low RSI valuation and an upward-crossing MACD mean that Dogecoin will be embedded on an upward trending path. The metrics suggest price development will escalate over time despite potential near-term market volatility.
DOGE shows steady recovery as price reaches $0.1701
Tracking the current price movement, CoinMarketCap data indicates that Dogecoin exchanges at a price value of $0.1701, noting a 2.4% increase within the day. The token’s market cap stands at $25.27 billion, and its 24-hour trading volume is $845.07 million, representing a 22.63% drop in volume. The token has a circulating supply of 148.49 billion DOGE, consistent with its total supply.
The 24-hour volume-to-market cap ratio is 3.35%, indicating moderate trading activity in relation to market cap. During the day, the price movement of Dogecoin followed an upward track while staying within the $0.1662 and $0.1701 price ranges. The Dogecoin price recovery becomes apparent because it retains positions above $0.16 while demonstrating a tendency to continue its upward trajectory.
