Journalist
Posted:
- Dogecoin shows several bullish signals, notably with the RSI on the 4 -hour table.
- Doge The activity was stable, with daily active addresses and whale movements at key levels.
The Dogecoin graph (DOGE) has revealed critical bullish signals thanks to its 4 -hour relative force index (RSI) and its price channels.
The RSI, deeply anchored in the territory of the occurrence with a reading nearly 48 at the time of the press, suggested a potential reversal for the price of Dogecoin.
This was reinforced by the RSI ascending tendency canal, indicating a reinforcement momentum despite the downward trend in the Doge price.
In addition, DOGE has shown an upward divergence because it retests the top of its broken canal, nearly $ 0.255 at the time of the editorial staff.
This retest has represented a critical moment – either confirming a bullish reversal or a failure, which could resume the downward trend.
Source: Trader Tardigrade / X
If the “King of the same” supports above the top of the canal, he could ignite a gathering to the next resistance at $ 0.27. If the price exceeds $ 0.27, DOGE could return to $ 0.5 and potentially $ 1 before the middle of the year.
Conversely, a non-compliance above the Retetet level could see Doge sliding towards the support of about $ 0.24, reiterating the volatility and the speculative nature of the same.
Each movement, whether it is a break or a rebound, will be essential in determining the Doge trajectory in the coming days.
The activity of the Dogecoin chain stabilizes
The DOGE activity table reflected a constant level of engagement with its network despite price fluctuations.
The number of daily active addresses is systematically aligned with large volumes of transactions and whale transactions, suggesting a solid fundamental interest in Doge.
In December, daily active addresses culminated simultaneously with an increase in the volume of transactions, indicating an increased activity which temporarily supported an increase in prices.
In particular, the number of whale transactions for transactions which exceeded $ 1 million has shown occasional peaks in correlation with price peaks and hollows, referring to the potential key movements of the market according to these activities.
Source: Ali / X
At the time of the press, the Doge price was $ 0.252, with transaction volumes suggesting a robust activity despite a downward trend.
If this level of activity persists or increases, it could point out a potential optimistic inversion for Doge which could feed a movement around $ 1.
Conversely, a drop in these measures could advance the downward trend, emphasizing the importance of high levels of high engagement supported for price recovery.
An increase in whale transactions associated with an increase in active addresses could catalyze a rally.
However, if these metrics decrease, this could confirm a continuous decrease in prices, emphasizing the essential role of network activity in determining the orientation of the Dogecoin market.
