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The dogecoin price is Enter a new bullish phase After months of decline. The technical analysis of the graphic graphic of the daily candle time shows that the popular cryptocurrency of the meme is flashing a turnaround, suggesting to a significant movement from the bearish momentum currently bullish.
Flag of reversal analysis of the daily trend on the Dogecoin graphic designer
An important cryptographic analyst known as Trader Tardigrade has highlighted to Trend reversal confirmed for dogecoin. In an X post (previously Twitter) this week, he underlined that the daily graphic designer of Doge has gone from a downward trend to a tendency to rise. This statement is strengthened by a technical analysis of Dogecoin’s prices.
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The price of Dogecoin has recently broken over a line of descending trend that had defined its downward trend for several weeks. This breakout took place on April 22, when Dogecoin closed over $ 0.165 on the daily period of time. This breakout was the first step indicating that the coin was escaping its bearish trajectory.
Shortly after violating the line of resistance inclined downwards, the Dogecoin price retired between 23 and 24 April to repeat the same trend line, but this time from above. It is important to emphasize that the first trend line of the resistance has been strong as a new level of support during the test. Following that successful test, Dogecoin resumed his ascent upwards, marking the continuation of the new tendency to rise.
This model of continuation, the continuation, the technical continuation of a turnaround. The success success of this trend line gives more confidence in the fact that the upward movement is real and not a false signal.
Image From X: Trader Tardigrade
Using target: $ 0.25 in early May
With the daily tendency now facing upwards, the focus is now on how much this new trend could transport dogecoin. According to the analysis of the Tardigrade merchant, Dogecoin could continue to climb in the next few days, potentially crossing the sign of the quarter of a dollar very early. As indicated on the graph that shared by Trader Tardigrade, the next Dogecoin price goal is about $ 0.25 by the first week of May.
If reached, an increase of $ 0.25 would be a significant milestone, Considering dogecoin has was blocked in a downward trend for over 10 weeks. As such, an $ 0.25 break would mark the highest price in Dogecoin since the end of February and a robust recovery from its recent minimums of about $ 0.14 to $ 0.15. This move would also represent a gain of about 51% from the level of breakout of $ 0.165.
However, $ 0.25 is only the short -term goal. In a separate analysisTrader Tardigrade indicated the long -term graphic designer of Dogecoin, highlighting a round basic formation. The accompanying table shows that in previous cycles, the dogecoin price formed a rounded bottom before entering the upper explosive trends. This repeated model, now again visible on the monthly period, indicates that Dogecoin can be on the point of another significant breakout. THE Long -term price goal In this case they are $ 2.8.
Image From X: Trader Tardigrade
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At the time of writing writing, Dogecoin is exchanged at $ 0.18.
In the foreground image from Usplash, a tradingview graphics