Crypto Analyst Tradingshot has set a pattern on the Doug chart, which shows the reason for expecting a bounce above $ 0.3 to Dogecoin price. This provides some optimism regarding the first Meme currency, which was one of the most lower trends in the encryption market.
The composition of the “Channel down” shows the reason for the price of the DOGECOIN above $ 0.3
in Tradingvief PostTradingshot highlighted the composition of a “bottom channel”, which showed that the price of Dogecoin could bounce over $ 0.3. The analyst explained that Doge is being circulated during a two -month channel, which may be on a broader scale Taurus science For this bull cycle. He added that regardless of the time frame, the price of Dog was sold strongly and the moving average for 200 days (MA) was the first time since October 25, 2024.
On the other hand, Tradingshot noted that if this style is just a day channel, the low prices that the registered Dogecoin price is technically recorded on the minimum trend line. He pointed out that the precedent, which was registered on December 20, 2024, recovered about 0.786 The level of retreat Fibonacci.
Installing this, with DOGE in Overitor, the encryption analyst confirmed that he expects the new upper upward leg for the DOGECOIN price to target $ 0.3800, slightly lower than the FIB 0.786 level. This provides some optimism regarding Mimi’s first currency, which recorded a decrease of 40 % and decreased to less than $ 0.20 after the wave of sale in Encryption During the weekend.
The price of Dogecoin has been recovered since then after the definitions were stopped by the United States, Mexico and Canada. However, the first Mimi currency is still less than $ 0.30. At this price level, the bounce may lead to a DOGE position again in the ups and lead to a bull race.
Dog must start her next leg soon
In the X Publishing, the encryption analyst Kevin Capital It is mentioned that the price of Dogecoin should start the next station of the bull soon enough. This came when he saw that Dog had just completed the second main correction of the bull cycle. The analyst noted that this basic procedure is very similar to the last cycle, even with a decrease in the percentage.
Kevin Capital confirmed that if things go well with Bitcoin priceThe price of the upcoming driver must start its leg soon. Tardigrade, Tardigrade, Crypto analyst, revealed that Macd’s Dogecoin indicates an intersection of a rise on the graph for 4 hours. He added that Dog is gaining ascending momentum and could be reflected in the bull race again.
At the time of writing this report, the price of Dogecoin is traded at about $ 0.26, an increase of more than 13 % in the past 24 hours, according to Data From Coinmarketcap.
Distinctive image from Adobe Stock, Chart from TradingView.com
