Dogecoin has recently been on a shaky road, entering March with a steep drop, and before stumbling again, it was only back briefly. After a decline trend began, the breast mine managed to return to $ 0.20 in the middle of the newly issued week.
However, this healing is short -lived. Dogcoin It has fallen since then In the last 24 hours, there is a possibility of falling to $ 0.17 and sales pressure continues. Nevertheless, despite the existing retreat, a technical signal that had previously previously previously previous rallies, this cycle is shaped in the weekly candlestick graph.
Weekly RSI alignment with a candlestick pattern, mirrors
Dogecoin’s relative force index (RSI) indicator In a crazy falling tendency During more than one time period. Go to Social Media Platform X, Crypto Analyst Trader Tardigrade an interesting emphasis The phenomenon with RSI indicator of Dogecoin’s weekly candlestick graph. The analysis was done in Dogecoin’s weekly candlestick time and has been looking at the price action of breast Coin since September 2023.
In particular, the Analyst said that the weekly RSI safely suggests “a strong potential recoil from the current level before adding“ $ Doge: $ 1 on the road ”.
DOGE market cap currently at $25 billion. Chart: TradingView.com
What makes this more than another prediction is the technical combination of the weekly candlestick graph. For the last two weeks, Dogecoin stepped on a weekly time period, both a dog and an inverse hammer; Combined with a decreasing RSI, the patterns that indicate the beginning of the strong rallies of this cycle.
The same combination took place only twice since September 2023. The first took place on October 2023, when Dogecoin rose from $ 0.07 to $ 0.22 by March 2024. The second example rose from $ 0.10 to $ 0.48 until December in September 2024. The current installation, which is now traded at $ 0.17, has been sorted again in a familiar way, and a similar rally can finally go beyond Dogecoin. $ 1 price level opened.
Image From X: Trader Tardigrade
Short -term Iraq strengthens recovery hopes
In a follow -up shipment, merchant Tardigrade rise On the hourly chart of Dogecoin. “When finding the goldcoin gold, RSI points to the difference in rise in the hourly graph, and added that the medallion could soon experience a short -term relief than a downward trend.
This decomposition indicates that the momentum is slowly rotating. Continuing price weakness. The deviation in the hourly candlestick graph is a short -term signal. Although short -term signals are not enough to guarantee a long -term rally, they can serve as the first confirmation of a gold.
Image From X: Trader Tardigrade
For the price of Dogecoin, this may mean a jump from $ 0.17 if it manages to keep it and the price movement to April is reset. However, this level cannot be protected due to the lack of acceleration in the wider market. Short -term optimism can invalidate And place Dogecoin under $ 0.17 at the beginning of April.
The prominent picture from Gemini Imagen, TradingView Graphics
Editorial process Bitcoinist has been thoroughly investigated and focused on providing accurate and impartial content. We maintain solid welding standards and each page is subject to an diligent examination by our best technology experts and experienced editors team. This process provides the integrity, relevance and value of our content for our readers.
