The DOGE price is up 2.5% today, now trading at $0.167. As a reminder, Dogecoin hit a local high of around $0.47 in December before the start of a major pullback that’s in line with the rest of the market.
Crypto veteran Ali Martinez weighed in on the situation about Dogecoin and pointed out an important indicator on the DOGE chart.
According to Martinez, Dogecoin might be preparing for a comeback. The Stock RSI indicator on DOGE’s chart has dropped to the bottom of its range, below 20, which typically signals that the coin is oversold. More importantly, the two lines on this indicator look ready to cross upward, something that often happens right before prices bounce back.
We’ve seen this pattern before. Similar crossovers happened in October 2023 and February 2024, and both times, DOGE prices shot up afterward. Before this recent drop, Dogecoin had climbed an impressive 444%, going from about $0.09 to almost $0.50.
The current downtrend has been significant, with the DOGE price dropping sharply from its recent highs and breaking through several price levels that previously held strong.
#Dogecoin $DOGE could be gearing up for a major rebound as the Stock RSI nears a bullish crossover. Momentum is shifting! pic.twitter.com/E0qdNaISyX
— Ali (@ali_charts) March 13, 2025
Key DOGE Price Levels to Monitor
Right now, DOGE is testing support between $0.14 and $0.15, with a recent price wick touching this zone. If the coin holds here, it could start moving back toward $0.20-$0.22, an area that used to be support but now acts as resistance.
Looking further ahead, DOGE faces more resistance around $0.30-$0.35, with the recent peak near $0.50 being a major hurdle. On the downside, if current support fails to hold, prices could slide toward $0.10-$0.12, with a deeper support zone around $0.085-$0.09 where buyers previously stepped in.
In his tweet, Martinez specifically noted, “DOGE could be gearing up for a major rebound as the Stock RSI nears a bullish crossover. Momentum is shifting!” This assessment aligns with the chart patterns showing potentially overextended selling that might be due for a correction.
While the technical picture suggests a possible rebound, remember that crypto prices depend on many factors beyond chart patterns alone. However, if Ali’s theory is correct, now could be the time to accumulate more DOGE tokens.
Read also: Time to Buy PEPE? Indicators Say Yes, But This $0.003 Rival Meme Coin Offers 10x Entry
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