According to an analyst, the price of popular breast coin Dogecoin is preparing to recover. Analyst says that the symptoms of decrease momentum for Doge have decreased and a significant rally potential has emerged. In this context, he argues that Dogecoin can rise up to 450 %of existing levels.
RSI shows ‘ascension deviation’ in Doge!
The latest technical analysis on the price of Dogecoin reveals that there is a change in market sensitivity. In the hourly graph, the RSI shows a ‘rise deviation’ indicating that the decline tendency has lost steam. This shows that the Dogge price can relax in the short term and possibly get out of the current downward trend.
According to crypto analyst Trader Tardigrade, the Dogge price is close to finding the bottom. This can soon lead to a recovery. RSI points to a shift towards more favorable conditions for buyers. This means that the breast coin price trend is upward with the potential to test higher resistance levels.
Is Dgecoin enters the bull trend?
According to Trader Tardigrade, Dogecoin’s market structure passed from the moon trend to the bull trend in the daily graph. This change is characterized by the formation of higher peaks (HHs) and higher bottoms (HLs) used as an indicator of the bull market. The analyst pointed to certain levels that could be very important for the rally to continue.
The main resistance levels consist of $ 0.178 and $ 0.164, which plays an important role in the volatility of Doge. Therefore, if the cost of the Dogecoin remains above $ 0.178, the bull tendency will increase the chances of making new high peaks.
However, if the Dogge price falls below $ 0.178, but remains above $ 0.164, the trend may be connected to the range. This may adversely affect the appearance of rise. Therefore, if the price falls below $ 0.164, it will be the continuation of the decline trend.
Rally potential for “Doge Circle” and Breast Coin
The analyst uses a cycle called “Doge Circle olan, an approach for price estimation. This model has been evident in determining significant support levels and major movements in the past. The lower limit of Doge Circle has provided support for breast coin since 2015, when the price splashed every time.
In previous cycles, Dge re -tested $ 0,0001 in 2015 and $ 0.0012 in 2020 to start new rally, reaching the highest prices of all time. The latest loop showed that Dogr returned by 26 %when it reached a lower limit of $ 0.1432. These historical movement tendencies indicate the possibility of Dogge for another fluctuation and in the previous market trends, as well as potentially the highest levels of all time.
Currently Dogge is out of the extreme selling zone. As you follow from Kriptokoin.com, some analysts estimate that Doge can rise to the overbreaking zone with a potential price of $ 8 to $ 10. This projection shows that it is a major upward potential.
