$DOGE Daily RSI is 24.4, in oversold territory. The current price is 0.0629.
When I first started learning technical analysis, I bought the dip whenever I saw the RSI fall below 30. Only later did I understand that an RSI below 30 is called oversold and simply means that recent losses make up a large share of the price movement. During a one-way decline, it can stay at low levels for a long time; being oversold alone is not an entry signal.
With leveraged trading, first work out whether you can handle the worst-case outcome, then consider what the signal is saying.
This is not investment advice. You are responsible for any gains or losses.
When I first started learning technical analysis, I bought the dip whenever I saw the RSI fall below 30. Only later did I understand that an RSI below 30 is called oversold and simply means that recent losses make up a large share of the price movement. During a one-way decline, it can stay at low levels for a long time; being oversold alone is not an entry signal.
With leveraged trading, first work out whether you can handle the worst-case outcome, then consider what the signal is saying.
This is not investment advice. You are responsible for any gains or losses.