Dogecoin extended its decrease to less than $ 0.17 during the past 24 hours, but now one of the most optimistic signals in the years. According to the recent technical analysis, it was published on the Tradingvief platform, it seems that Dogecoin is backed by the lower direction line of a multi -year descending triangle that can Pay it about and above It has 2021 at all.
The hacking above was confirmed by the main technical areas
Analysis, That depends on Dogecoin / Tether Us is studying on Binance, the Meme Coin price movement on the weekly candle frame scheme. According to the graph below, Dogecoin has been closed in a declining direction since it recorded its highest level in the year 0.48 dollars in December 2024. This descending movement has been consistent over the past 17 weeks, and formed a series of highest levels and lower declines. Although there are short periods of healing, the most prominent of which are green weekly candles or candles, they were eventually overcome by the prevailing direction.
Recent price procedures in early March witnessed the collapse of Mimi currency less than support levels, and mainly scanned most of the previous price gains in Q4 2024. This declining trend slowed at the end of the month, which led to the formation of some refugee candles that indicate that the reflection may be soon. Interestingly, this slowdown movement caused the start of the price of Dogecoin What may be a reflection From the lower direction line of a descending triangle has been in the formation since 2023.
This apostasy is more intensified by A strong step above Ichimoku cloud, a good indicator of resistance and direction. This penetration is seen as an affirmation that Dogecoin is gradually turning from a long drop stage.
The goal of one dollar by mid -2015, but the decline to 0.4 dollars is possible
The potential recovery is formed, as the analyst has identified a scenario, as Doug extends its climb through the Al -Soudi Al -Swalish channel, which is included in the formation of a larger triangle. If it is not built, this upward step will be witnessed by the Meme Currency Rest at the highest level ever at $ 0.73, and finally broke the price level of $ 1 by mid -2015.
Although there is more bullish capabilities after breaking one dollar, the analyst suggested that Dogecoin may go through a decline of about $ 0.43 from here, which will serve as a strong support zone and the re -testing point after hacking. If this level continues, Dogecoin can resume its upward rise towards one dollar again and eventually reaches $ 2.
These price targets look good in a long -term time frame, but it depends on how to dodge Performs in the short term. At the time of this report, Dogecoin is traded at $ 0.1659, a decrease of 1.48 % over the past 24 hours. Any bullish expectations here depend on Whether the mem currency can bear Top 0.17 dollars and pay more than $ 0.2 before the end of the month. but, A break less than $ 0.15 It can destabilize any bullish momentum.
Distinctive image from Adobe Stock, Chart from TradingView.com
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The post Dogecoin Weekly Chart Points To Bullish Breakout To $2 From Multi-Year Descending Triangle first appeared on Investorempires.com.
