- Dogecoin’s daily chart confirms a second bullish divergence as the RSI forms higher lows against falling price levels.
- Support at $0.1833 remains critical, with repeated defense preventing deeper losses in recent sessions.
- Resistance near $0.1876 continues to limit upward movement, signaling a tight range before a potential directional shift.
Dogecoin’s price action on the daily chart shows a second bullish divergence forming between the RSI and the price trend. The trend followed a gradual downward trend that has taken the token close to its current support zone. In the last daily close, Dogecoin was trading at $0.1871, which was a growth of 0.4% as compared to the last session. Such a minor recovery was seen when the RSI continued registering higher lows, at the same time, the price registered new lower lows.
Tight Range Between Key Levels Signals Market Compression
The market stood at a stable position of about $0.1833, which has been used several times as an interim support. The recent signs in price action indicated that there was a steady effort to defend that area, but restricted further loss. In the meantime, intraday movements were within a small band as the day trading volume declined. Nevertheless, the persistence of increased RSI lows was encouraging omens of a new strength.
On the upside, the nearest resistance formed near $0.1876, capping intraday rallies. Every approach toward this price area has faced mild rejection, suggesting hesitation among buyers. Nevertheless, the smaller price increments are indicative of slow, but not instantaneous, volatility.
It is important to note that the difference between support and resistance is narrowing down and this is usually followed by a breakout or a long phase of consolidation. The momentum indicators are now in perfect accord with this tightened price range, given that the RSI curve is currently pointing in the upward direction.
Consecutive Divergences Strengthen Short-Term Outlook
The current setup marks the second bullish divergence on the daily timeframe, reinforcing the earlier signal recorded this month. Both divergences emerged as price lows declined while the RSI trended higher. This sequential formation indicates that underlying momentum has shifted from earlier weakness toward gradual recovery. As the market approaches the resistance area again, traders continue to monitor whether sustained movement above $0.1876 could confirm near-term stability. Overall, the alignment between RSI behavior and price structure highlights a period of tightening control between market participants.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed