DOGECOIN prices forms the reverse and shoulders pattern to suggest a quick reflection to $ 0.25
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Dogecoin has It turned to the negative price area In a seven -day time frame, with the MIM coin currently decreased by 6.11 % in the past seven days. However, this basic procedure led to a bullish style on the time frame scheme for one hour.
Construction composition It follows a corrective drop This briefly pushed Dogecoin to $ 0.215, but recent trading sessions have seen the lowest support levels and the most stable support levels. This, in turn, has led to the formation of a reverse and shoulder pattern indicating rapid emerging goals for the Dogecoin price.
The analyst determines the reverse and shoulder pattern
Klejdi Cuni Spread technical expectations On the x social media platform, highlighting the back and shoulder head style on the DOGE/USDT scheme on the timeline of the candle for an hour. The preparation consists of three distinct basins, although the deepest center is the deepest and formed on May 25. The right shoulder, on the other hand, formed between May 23 and May 24, which made the height to what can be explained as a short -term updated reflection.
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According to the analyst, this reverse head and shoulders are a smaller composition, making it more related to the short -term traders who are looking for quick movements. At the time of writing this report, Dogecoin is still in the process of completing the left shoulder, as it is now testing the resistance of the neck line by about $ 0.228. The collapse above this neckline can lead to a sufficient size to confirm a rapid move up.
Short -term bi -up goals for Dogecoin
If the back of the oud and the shoulders set up as expected, the analyst predicts an increase in the price of Dogecoin first to the area of $ 0.239. This level was a level of support for several hours on May 22, before the collapse in the end and the act as resistance during a brief attempt in the late hours of May 23. As such, it will be important to note this field, as a successful breach will open the door to the next goal.
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The next goal of the short -term price if Dogecoin succeeds in scanning $ 0.239 at $ 0.25. Although modest compared to some long and medium expectations in the long run, this level is important for a different reason. Rally to $ 0.25 It is a full recovery for The latest local summit in Dukwin in May. This, in turn, can be the beginning of the continuation of the assembly to the high price About $ 0.3 and beyond levels.
The projection shows the above graph, a step, as the penetration leads to an immediate procedure in the upward direction, followed by monotheism before the secondary leg paid the Dogecoin price to $ 0.25. However, as with any pattern, the confirmation is important. Not to keep the penetration area Or the collapse of the bottom of the right shoulder, which is about $ 0.222, will weaken the upholstery and can lead to a re -test of $ 0.21.
At the time of writing this report, Dogecoin is traded at $ 0.2245.
Distinctive image from Getty Images, Chart from TradingView.com
