Dogecoin RSI Returns To Pre-Launch Levels, Analyst Says Next Major Surge Is Close

Dogecoin's chart analysis suggests a potential explosive rally is on the horizon. Trader Tardigrade notes the Relative Strength Index (RSI) is at levels preceding past price rallies since 2023. Dogecoin has maintained a steady uptrend along a support line since 2023, signaling accumulation. The RSI has consistently aligned with Dogecoin's strongest rallies in the current cycle. Each RSI dip has coincided with price retests of an ascending trendline, followed by upward movements. The current RSI position is at its third dip, suggesting another potential launch point. A long-term support trendline from mid-2023 has acted as a reliable price base. If the pattern holds, Dogecoin could embark on its third notable bullish run since early 2024. A rally could push the price above $0.5, potentially reaching a target of around $0.8. As long as the RSI holds and the price stays above the ascending support, a rally may occur.