Dogecoin has been on a brittle road recently, entering Mars with a sharp drop and a brief restoration of momentum only before stumbling again. After starting the month in the declining direction, the Meme coin managed to return to the $ 0.20 brand during the mid -week that was just connected.
However, this recovery was short -term. Dokwin He decreased since then To about $ 0.17 in the past 24 hours, and there is a possibility that it can decrease more if the pressure persists. However, despite the current decline, the technical signal that previously previously the main marches in this course is formed on the weekly candlestick scheme.
The weekly RSI alignment with the candlestick pattern reflects the escape of the past
Dogoin (RSI) Crazy down direction For several months across multiple time frames. Moving to the x social media platform, Crypto merchant Tardigrade analyst The most interesting thing Phenomenon with the RSI Index Index on the weekly candlestick scheme for Dogecoin. The analysis of the DOGECOIN weekly timeline has been conducted and sewed for Meme Coin’s prices since September 2023.
In particular, the analyst pointed out that the weekly relative index “suggests a strong potential recovery from the current level”, before adding with confidence, “$ DOGE: $ 1 on the way.”
DOGE market cap currently at $25 billion. Chart: TradingView.com
What makes this more than just another prediction is the technical meeting that is formed on the weekly candlestick scheme. Over the past two weeks, Dogecoin has printed both Dogi and an inverted hammer on the weekly timetable; The patterns that, along with a decrease in the relative strength index, were characterized by the beginning of strong gatherings in this session.
This same mixture happened twice until September 2023. The first was in October 2023, when Dogecoin rose from $ 0.07 to $ 0.22 by March 2024. The second case came in September 2024, before moving from $ 0.10 to $ 0.48 by December. Aladed now at $ 0.17, and the current setting has been lined again in a familiar way, and a similar crowd may finally take Dogecoin yet The price level is $ 1.
Image From X: Trader Tardigrade
The difference in the short term strengthens the hopes of healing
In a follow -up post, Trader Tardigrade also referred to Spacing On the DOGECOIN graph every watch. “Dogecoin finds its bottom while RSI refers to the upscale difference in the hourly chart,” adding that the currency may soon face short -term comfort from the declining direction.
This difference indicates that the momentum gradually turns into this though The continued twice the price. The difference on the candlestick diagram every hour is a short -term sign. Although short -term signals alone are not enough to ensure a long -term gathering, they can serve as the first confirmation that the bottom is.
Image From X: Trader Tardigrade
For the price of Dogecoin, this reversion may mean a level of $ 0.17 if you can retain the re -control of the price of the price that is heading to April. However, the failure to maintain this level due to the lack of momentum of a rise in the wider market Optimism may be invalidated in the short term Dogecoin put less than $ 0.17 at the beginning of April.
Distinctive image from Gemini Imagen, the tradingvief chart
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