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The price of dogcoin is Enter a new fast phase after Months of fall. The technical analysis of the Daily Candlestick Timeframe Chart suggests that the popular Meme Cryptocurrency is brightening a trend inverter, indicating a significant change from recession to the speed of faster.
Analyst reverses the daily trend on the dogcoin chart
A major crypto analyst Thrown light on Confirmed tendency for dogcoin. In a post on X (East Twitter) this week, he said that Dogi’s daily chart has flipped from one downtrend to one uptrend. This claim is reinforced by technical analysis of the value action of dogcoin.
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The price of Dogecoin recently broke over a descending trendline, which defined its downtrend for several weeks. The breakout took place on April 22, when the dogcoin closed above $ 0.165 on the Daily Candlestick Timeframe. This breakout was the first step that indicates that the coin was avoiding the trajectory of its recession.
Shortly after breaking down the sloping resistance line, the price of dogcoin returned between 23 April and 24 April, so that the same trendline could be rebuilt, but this time from above. Importantly, the pre -resistance trendline strengthened as a new support level during the Retests. After that successful testing, Dogecoin resumed its upper climb, marking the continuation of the new uptrend.
This pattern of brakeout, retract, continuity is a classic technical confirmation of a trend inverted. The successful retract of this trendline gives more confidence that rapid change is real and not a wrong signal.
image X to: Treder Tardigrade
Rapid target: $ 0.25 till early May
Pointing upwards with the daily trend now, meditation is now on the fact that this new uptrend can carry Dogicine. According to the analysis of the trader tardigrade, the dogcoin can continue climbing in the coming days, possibly crossing the quarter-dollar mark. As indicated on the chart shared by the trader tardigrade, the next dogcoin price target is about $ 0.25 by the first week of May.
If obtained, an increase of $ 0.25 will be an important milestone, Keeping in mind the dogcoin Got stuck in a Dalit for more than 10 weeks. For example, a break of $ 0.25 will mark the highest price of dogcoin from the end of February and its recent climb will be a strong recovery around $ 0.14 to $ 0.15 range. Such a step will represent approximately 51% profit from a breakout level of $ 0.165.
However, $ 0.25 is the only target in short term. In A separate analysisTreder Tardigrade pointed to the long -term chart of dogcoin, highlighting a round below formation. Together the chart shows that in the previous cycles, the price of dogcoin formed a round bottom before entering the trends upwards. This repeated pattern, now visible on the monthly deadline, indicates that dogcoin may be on the verge of another important breakout. Long term value target The case is $ 2.8.
image X to: Treder Tardigrade
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At the time of writing, Dogecoin is trading at $ 0.18.
Specially displayed image from UNSPLASH, chart from tradingview
