The price of the dogecoin can be Configuration for a significant rally As a technical analyst, analyst identifies a bullish escape above the 50-day trend line. After months of Compressed price actionThe same currency now seems about to conclude its downward trend, igniting fresh optimism within the cryptographic community.
Dogecoin price set for the rally that changes the situation
Trader Tardigrade, a Crypto market analyst, announcement In a position X (formerly Twitter) on July 1 that the price of Dogecoin has just detached itself from a criticism 50 -day descending trend line on his daily table. With this new development, the analyst provides for the potential start of a powerful upward price movement.
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In particular, the Trendline escape marks a Change of momentum for Dogecoinwhich had been locked up in a constant decrease trend over several weeks. The main room is currently negotiated at $ 0.17, having denied Almost 10% in the last month, according to CoinmarketCap.
With the potential end of this market slowdown In sight, Trader Tardigrade suggests that Doge’s microstructure is now starting to show the first signs of a Optimistic inversion model. In his price table, the analyst notes that Dogecoin established a lower lowerFollowed by a higher summit after its break up above the long-standing trend line.
More recently, a second below has formed, strengthening the possibility that a new upward trend is in progress. This structure, characterized by successively higher ups and downs, is often considered the first confirmation that buyers could regain control of the market.
The escape is also particularly important because it follows an prolonged period of lower stockings and lower ups, the 50 -day trend line acting as a strong barrier of resistance. With this resistance now raped and the first signs of a Haussier market structure In development, Death Tardigrade is more and more optimistic The short -term perspectives of Dogecoin. If the current trend persists, it could point out the start of a sustained rally for the same piece.
The analyst says that Dogecoin below $ 0.2 is free
In a separate analysis, the market expert Kaleo disclosed The current price of what Dogecoin is less than $ 0.20 Strong accumulation opportunitywhich implies that the same part is significantly undervalued Compared to its upward potential. Defining his point of view with a graph, the analyst has planned that the price of the dogecoin could be on the verge of a major escapeWith possible increase targets indicating an increase to $ 1.5 and perhaps beyond $ 3.50.
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The analysis of Kaleo’s graphics highlights strong similarities between the current structure of the Dogecoin market, following the April 2024 Bitcoin Hist, and the 2020 break which preceded the historic Bull Run of the same corner. In 2020, Dogecoin exchanged laterally in a corner pattern falling for months before an escape triggers a Parabolic surge at fresh aths. The current price action presents an almost identical configuration, the meme piece now emerging from the same year DitchPotentially prepare the ground for another historic bull rally.
Istock star image, tradingView.com graphic
