Dogecoin price on the timeline scheme for an hour was for an hour Specified with a sharp decrease Since April 14, with Mimi currency Slipping in the formation of a falling wedge. However, this three -day landing trend now shows signs of reflection. According to To analyze before Crypto Kledjicuni analyst on TradingView platform, the correction phase may have ended, and Dogecoin can prepare for a short crowd.
Dogecoin correction may come in the short term before resuming the upper direction
analysis Dukwin Al -Saudi capabilities It reveals that Mimi’s currency recently erupted from the fall of the fall, a pattern often considered an introduction to the upper penis. It is worth noting that the formation of this falling wedge, which witnessed the decrease in the price of Dogecoin from $ 0.17 to $ 0.15 over a period of three days, is part of the stretching feeling that lasted for nearly two months.
However, Dogecoin began to get out of this falling bend, a step that represents a shift in feelings in the short term as the price begins to restore upward momentum despite the declining pressure in the wider encryption market.
Currently, it seems that Dukwin is prepared for Starting in an upward direction. The end happened, but the analyst warns that withdrawing to a $ 0.1550 region is still likely to be in the direct term. Such a correction will be a test of the penetration structure and can help confirm support before the next station. This short -term decrease does not invalidate the rise. Instead, it can provide an entry point for merchants who expect more upward trend.
The targets of the bullish trend set at 0.1607 dollars and 0.1670 dollars
Once Dogecoin completes the expected decline towards a $ 0.1550 region, the next expected step is to continue the upper reflection, with prices eliminating the entire correction that started on April 14. The first resistance level is 0.1607 dollars, which is the level of a decrease in the formation of fallen wedge.
If Dogecoin managed to scan $ 0.1607 with a strong size, this will push the price towards resisting the second key at $ 0.1670. This price level is in line with the fall of the fallen wedge, which is the technical origin of the landmark trend in this table. Access to this point will complete the recovery from the Habudiya wave.
These goals are realistic upward goals that traders can benefit from in the short term, provided that the market exceeds the last hack area and avoid slipping under the counterattack.
At the time of this report, Dogecoin is traded about $ 0.1560, and it is still hovering over the support area of $ 0.155. The M. currency has decreased by 0.34 % in the past 24 hours. However, there is still a possibility for a bounce to $ 0.17 Before the weekend.
Distinctive image from Istock, Chart from TradingView.com
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