The action of the Dogecoin prices on the one hour candlestick was been defined by a sharp decrease Since April 14, with the coin Slide into a falling corner formation. This three -day downward trend, however, now shows signs of inversion. According to to an analysis by Crypto analyst Kledjicuni on the tradingView platform, the correction phase may have ended, and Dogecoin could prepare for a short gathering.
The short -term correction of Dogecoin can arise before CVs
Analysis of Dogecoin’s optimistic potential reveals that the same currency recently broke out of a falling corner, a model often considered as a precursor of the bullish impetus. In particular, this corner decreased training, which saw the price of Dogecoin drop from $ 0.17 to $ 0.15 over three days, is part of an extensive lower feeling that persisted for almost two months.
However, Dogecoin is starting to get out of this corner fall, a decision that marks a short -term change of feeling while the price is starting to recover the momentum despite a persistent lower pressure on the wider market of cryptography.
Currently, Dogecoin seems ready to get into an upward trend. The escape occurred, but the analyst warns that a removal of the $ 0.1550 area is still probably in the immediate term. Such a correction would serve the breaking structure again and could help confirm support before the next step up. This short -term drop does not invalidate the bullish configuration. Instead, he could offer an entry point for anticipated on the rise.
Upward price objectives identified at $ 0.1607 and $ 0.1670
Once Dogecoin has completed its expected withdrawal to the $ 0.1550 zone, the next decision scheduled is a continuation of the bullish overthrow, with a price action which cancels all the correction that started on April 14. Interestingly, analyst Kledjicuni identified two key resistance levels to look at in the short -term rally phase. The first level of resistance is $ 0.1607, a level which formed a lower top in the formation of falling corner.
If Dogecoin manages to release $ 0.1607 with a strong volume, this will increase the price to the second keys to $ 0.1670. This price level aligns with the apex of the corner fall and is the technical origin of the downward trend of this corner. Reaching this point would effectively finish the recovery of the downstream wave.
These objectives represent realistic bull objectives on which traders can capitalize in the short term, provided that the market is above the recent rupture zone and avoids falling under the corner.
At the time of writing the editorial staff, Dogecoin is negotiated at around $ 0.1560, still oscillating slightly above the support zone of $ 0.155 in highlight. The same part decreased by 0.34% in the last 24 hours. Nevertheless, there is still a possibility of rebound at $ 0.17 Before the end of the week.
Istock star image, tradingView.com graphic
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