A new technical analysis revealed that the price of the Dogecoin has officially completed a bullish bonded background model, pointing out a potential Inversion of trends And pave the way for a large price rally. Supporting the possibility of an escape, Dogecoin also has a critical beach, analysts closely ensuring a decisive decision which would confirm the start of a New bullish phase.
The rounded bottom overly optimistic confirmed
A 4 -hour DOGECONE PRICE TABLE common By Bitguru, a crypto analyst on X (formerly Twitter), posted A manual rounded background model. This technical model is considered to be a classic structure and structure when the price of a cryptocurrency moves in a downward and bounced trend, creating a progressive progressive curve.
The current rounded background of Dogecoin was formed after having experienced a downward trend From the area of $ 0.205 to a hollow of $ 0.130, showing a strong downward dynamics. Following the market dumping In early April, Dogecoin began to form higher stockings and gradually bend, indicating that buyers are finally gaining strength and that accumulation increases.
The rounded structure, labeled “Bulsh beauty”, in the price table, shows two keys, the first low around $ 0.13009 and the second lower than $ 0.15217. These stockings form the characteristic form observed in the bull and rounded background patterns. This structure suggests that The bears lose steamhighlighting a significant passage from a lowering territory to Haussier.
Bitguru identified the levels of $ 0.1,6661 and $ 0.18028 as Critical resistance zones During the previous tendency to decrease Dogecoin. However, these levels were raped, with strong bullish candles confirming the escape.
Currently negotiating at $ 0.18 with substantial momentum and volume, DOGE A entered a consolidation phase Above his escape zone, suggesting a probable strength and continuation of an upward trend.
With bullish feeling And the technical indicators aligning, Bitguru reveals that buyers are preparing to generate the price of Dogecoin to a Fresh expenses of all time. A break above the resistance range close to $ 0.19 to $ 0.2 would more disabled the upward configuration, signaling a strong ascending dynamic.
Doge Price approaches the critical break range
The Dogecoin Prize could prepare for a significant escape, as the merchant of the Cryptoigrade Crypto analyst revealed him in a X post that the meme coin now enters a critical beach level. On the 4 -hour table, Dogi moved laterally in two separate periods linked to the beach in recent weeks.
During these phases, the action of the same corner prices presented a classic behavior of “false break”. In the first range observed, Dogecoin witnessed a false breakdownDiving below the level of support before recovering slightly.
This movement was followed by a false escapeduring which the price jumped above the resistance line but quickly traced. Finally, Dogecoin managed to move over the beach, establishing a new consolidation area at a higher level.
A similar model is now emerged in the current beach. DOGE has briefly fell below the support in a false breakdown, and then he tried a false rupture above the resistance – to be remote in the beach. Delay Tardigrade suggests that after several unsuccessful attempts to break the fork significantly, Dogecoin is ready for a real escapepotentially triggering a rally at $ 0.19.
Getty Images star image, tradingView.com graphic
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