Dogecoin saw its price again after a month of ascending movement in April. This slowdown again affected the feeling, pushing investors in the territory of fear. However, this could only be a small blip in the radar because the price of Dogecoin could be ready for a rebound. A crypto analyst in particular said that it is possible that the Dogecoin price has marked a background.
The price of Dogecoin could have a background after the accident
The astronomer of the crypto analyst called a possible background for the price of Dogecoin after the rejection of $ 0.18. The analyst stresses that the last time that the memes play had similar fundamentals, it was back in October 2024, before the price of Dogecoin joined around 500% for a new local peak of $ 0.5.
This time, the Crypto analyst believes that the current fundamentals are the same as in 2024, because the Altcoin market would be overflowing. But this time, the astronomer expects the price of the dogecoin to join more than before.
At this level, it is planned that the Dogecoin price will be reversed and will bring many awards for investors. “The OMI, since it is an altcoin and expectations are probably beyond $ 0.5, having heavy dots bags already paying for little risk,” said the astronomer. “If you want a defined risk for a defined reward, I think the time presented is also logical.”
Inversion model in progress
The price of Dogecoin plans an inversion diagram after putting a possible background. This has been highlighted by another crypto analyst who showed that the meme piece shows a bullish divergence on the graph. At this level, it is the RSI which is optimistic and the analyst believes that a break above 0.206 from here would be positive for the price.
With a bullish feeling that is recovering, he gives the price of Dogecoin the push he needs to move upwards. In addition, if the same part is capable of closing above the trend line indicated in the graph below, it should become bruise for the price.
The first major objective of the price is resistance to $ 0.2, which Bulls must beat. After that, the level of $ 0.27 comes into play, and the final lens for an increase of 100% is more than $ 0.33.
