Dogecoin has been drifting around the price level of $ 0.17, and has struggled to find a trend in a market that is still overwhelming. The encryption prices were bleeding in all areas, as bitcoin and other major assets show signs of fatigue.
Amidst this recession, a modern development appears The reflection may be a breeding For Mimi coin. This last development is detected by the latest weekly closure of Dogecoin, which was closed with a candlestick that is often associated with the reflections of the direction.
Dogecoin closes the week with Doji Candle: What does this mean?
Dogecoin closed last week with Doji candle, with long negative and thin body. Interestingly, Tardigre Note on social media X platform that this doji Weekly Close is an interesting development for Dogecoin, given what happened the last time that Meme was approaching weekly. According to Trader Tardigrade, this specific closure can distinguish The end of the current declining direction It is a possible turning towards recovery.
Doji candle occurs when open and close prices are almost identical, reflecting the lack of prices in the market. As such, the latest DOJI candle reflects that Devision Doge passed last week where Bulls worked to prevent a The price is continuing From the previous week.
In the case of the last Dogeco Dogi candle, the specified candle has a longer fuse compared to the upper wick. This is because the week began a continuous decrease in the previous week, which mainly prompted Dog to a decrease of $ 0.142, which is its lowest point in four months. However, the price of Dogecoin eventually closed the week at $ 0.16818, which is slightly more than 0.16802 dollars.
Dog’s history with Duji candles and high prices
The most prominent trader tardigrade that last time Dogecoin printed Doji on the weekly timetable, and has already gathered a large rate. As described in the DOGE WeEKLY Candlestick Timeframe scheme, the last time it happened in the first week of October 2024. At the time, Dogecoin closed around a week at $ 0.11. After this closure, the Mimi currency went by 340 % that lasted in the next eight weeks, reaching a peak of multiple years of $ 0.486.
The question now is whether this setting will play similarly in the current environment or whether the current downward feelings will overcome any chance to reverse. Unlike October 2024, current market conditions They are declining by an overwhelming majorityWith encryption assets that are struggling to find a foothold in the midst of constant sale pressure.
While this weekly deji candlestick is not sufficient to confirm the upward trend, the upscale expectations are that Dogecoin re -performs its previous performance. A similar rally 340 % From the latest DOJI of $ 0.16818, DOGE will put a targeted price of $ 0.75.
At the time of writing this report, Dogecoin is traded at $ 0.1740.
Distinctive image from Unsplash, Chart from TradingView.com
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