Dogcoin $0.186225 The expectation of a great rise in the price is supported by technical analysis. Technical analysts, various graphic formations and indicators by drawing attention to the price of approximately 10 times the price suggests. The breakage in the MACD indicator, the triangular formation, and similar cycles in the past years support these predictions. Cup Kulp Formation stands out as the other important structure that analysts draw attention to.
Critical Signal in Macd and Triangle Formation
The separation of the MACD indicator from the triangular formation on the Dogecoin price chart attracted the attention of analysts. It is emphasized that this break is similar to the structures seen before the major price increases in the past. Technical Analyst Trader Tardigrade said that the MACD indicator went out of the triangle and this gives a strong signal of rise. In this way, MacD’s upward breakdown is considered as a development that can activate market participants.
The direction of MacD gives an idea to investors about Dogecoin’s future movements. Especially in the previous cycles, the rapid price rise after such breaks has created hope that the same scenario can be experienced again. However, it is also reminded that investors should not make decisions based on an indicator.
Cup Hand Formation and Resistance Level
Analysts report that the formation known as “cup handle ında in the Dogecoin graph is formed. This structure is usually interpreted as a harbinger of a large rise with the breakage of resistance after a recovery process. Technical analysis experts, especially $ 0.185, says an important resistance. If this level is exceeded, the price is estimated to rise to the range of $ 1.85 to $ 2.00.
Cup Formation of Cup Kulp is generally considered reliable in the crypto currency market. The “Handle” part, which is formed by the “Kulp” region and the next horizontal movement, formed by the price slowly falling and then back to the same level, forms the basis of this structure. According to analysts, Dogecoin exhibits exactly this structure, which points to a strong rise potential.
Similarities with the 2017 cycle attract attention
Analyst Kisspax said that the current price movements resembled the great Dogecoin rally in 2017. According to Krisspax, the fact that technical structures similar to that period go back to the stage may be a harbinger of a new price explosion. In particular, it is emphasized that the support zones are strengthened and the technical indicators point to the upward direction.
In the crypto currency market, past loops are often used as a reference to predicting possible future movements. Kisspax says that the past graphic structures and present similarities are not a coincidence and that this is an important signal for investors. However, the volatile nature and external effects of the market should always be taken into consideration.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
