Dogecoin confirms the daily direction reflection with penetration, re -test, and new upward arrangement
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Dogecoin price Enter a new rising stage after Months of retreat. The technical analysis of the scheme of the timeline of the daily candlestick shows that the famous MEME currency is flashing the reflection of the direction, which hints to a significant shift from the decline to the bullish momentum.
Daily analyst signs, the reverse direction on the Dogoin chart
A prominent encryption analyst known as Trader Tardigrade The most prominent a Reverse the sure direction of Dogecoin. In a publication on X (previously Twitter) this week, he indicated that Duji’s daily scheme has turned from a decline to a bullish direction. This claim is strengthened by the technical analysis of the DOGECOIN work for prices.
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The price of Dogecoin recently erupted over the descending trend line, which has set its downward direction for several weeks. This penetration occurred on April 22, when Dogecoin closed above $ 0.165 on the timetable of the daily candlestick. This penetration was the first step that indicates that the currency was escaping from its landfill.
Soon after violating the downward slope resistance line, the price of Dogecoin decreased between April 23 and April to re -test the same direction line, but this time from the top. More importantly, the previous trend of resistance retains a new level of support during the test. After this successful test, Dogecoin resumed its upward climbing, which represents a continuation of the new upward arrangement.
This pattern of penetration, re -test, continuity is a classic technical confirmation to reverse the direction. The successful re -test of this direction line gives more confidence in the fact that the upward shift is real and not a wrong indication.
image From x: Trader Tardigrade
Al -Soudi Al -Fuel: 0.25 dollars by early May
Noting the Daily Trend now to the top, the focus is now on any extent that this new upper upward trend can carry. According to the Trader Tardigrade analysis, Dogecoin can continue to climb in the coming days, and may cross a quarter of the dollar very soon. As shown on the graph that Trader Tardigrade shared, the next Dogecoin price is about $ 0.25 by the first week of May.
If achieved, the height to $ 0.25 will be a great milestone, Consider his Dogecoin He was stuck in the declining direction for more than 10 weeks. As such, a break to $ 0.25 would set the highest price for Dogecoin since late February and a strong recovery from its lowest levels around 0.14 dollars to $ 0.15. Such a step also represents a profit of approximately 51 % of the penetration level of $ 0.165.
However, $ 0.25 is only the goal in the short term. in Separate analysisTrader Tardigrade referred to the long -term Dogecoin chart, with a highlight of the formation of a round bottom. The accompanying graph shows that in previous sessions, the price of Dogecoin was a round bottom before entering explosive upward trends. This frequent, now visible style on the monthly timeline indicates that Dogecoin may be about to show another great. the The purpose of the long -term price In this case $ 2.8.
image From x: Trader Tardigrade
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At the time of this report, Dogecoin is traded at $ 0.18.
Distinctive image from Unsplash, tradingvief chart
