A new technical analysis of a Crypto analyst suggests that the recent Dogecoin Prix Diline can happen to a quick end. The analyst provides that this most important piece of memes is preparing for a price rally to $ 0.5. Although Doge Long -term perspectives seem optimisticThe meme piece faces a last obstacle which could delay its ascent.
DOGECOIN PATIER PATTERN Signals Imminent overvoltage
According to the crypto analyst (formerly Twitter) abbot case, Dogecoin is training a perfect rounding pattern on the annual graph, indicating a potential for Embark on a major rally $ 0.55. This manual model is a technical indicator which often signals a possible beginning of a price reversal after a prolonged downward trend.
The background motif suggests that Dogecoin gradually gained momentum despite its recent The price decreases to new stockings. The analyst shared a table of prices representing the price movements of the memes piece from 2022 to the present day. The yellow trend line at the top of the graph represents a resistance zone Around $ 0.4 and $ 0.55. DOGE had previously tested this resistance area but faced a rejection that lowered its price to the low low.
Abbè’s graphic is also evident Relative force of Dogecoin (RSI) momentum. The weekly RSI approaches a line of support trend around the level of 40 to 48.98. Historically, DOGE tends to reverse and move higher when RSI reaches this level. Based on the ascending trajectory of Rounding background modelThe analyst projects that the price could soon reach up to $ 0.55.
Although this goal records an important step for Dogecoin, it is still well below its $ 0.65 ATH, reached during the previous one Bull Market in 2021. Other members of the crypto expressed their enthusiasm about the prediction of Abbè, forecast Even higher $ 1 for Doge.
In addition, commentators like Dean Chapman have highlighted The potential impacts of a Dogecoin ETF on the future perspectives of the same corner. With the news of Dochecoin ETF Dosings Distributed over the crypto space, Doge may experience a more substantial price rally similar to Bitcoin during its Spot Bitcoin ETF Fomo.
A last cash register before the rally?
Despite the optimistic perspectives, Abbè warns that Dogecoin can face a final drop Before the planned rally. The technical indicators on the graph, in particular the average RSI convergence and the average of the Mobile average (MacD), refer to a Short -term poll.
Abbè provides that Dogecoin will experience an initial drop in the range from $ 0.19 to $ 0.20 before finding a solid sole for a price reversal. If the meme piece can successfully keep this support beach and cross the resistance levels, DOGE could come together to the planned objective of $ 0.55. This would be an increase of 120% compared to its current market value of $ 0.25.
Adobe Stock star image, tradingView.com graphic