Unichartz cryptography analyst has highlighted a Squeezo de Dogecoin That could cause the next massive movement of the meme currency. This occurs in the midst of a broader accident in the crypto market, which has also led to a decrease in the most important memes currency.
Dogecoin that shows a promising structure
In Commercial vision postUnichartz declared that a Dogecoin squeeze is incoming. He pointed out that the meme currency is showing a promising structure as it quotes within a growing wedge formation. The analyst added that Dux the price It remains above an ascending support line, which has respected several times, indicating a sign of bullish intention of buyers.
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His accompanying table showed that this Dogecoin squeeze could lead to a manifestation to the psychological level of $ 0.3. If that happens, it will mark the first time Doge reaches this level from a Multiple height of around $ 0.48 in 2024. It will also mark a maximum of 2025 for the MEME currency, with its current maximum in around $ 0.28.
Unichartz revealed that a descending resistance line and a key horizontal supply zone Around $ 0.28 are acting as a strong barrier to meme coin. He commented that Dege will need to turn this confluence zone cleanly to see a higher break and push. Meanwhile, the MEME currency continues to decrease along with the broader cryptographic market.
Dogecoin has fallen from a recent maximum of around $ 0.24 and has dropped more than 8% in the last seven days. This has happened thanks to the massive fall in Bitcoin’s priceWith the badly cryptography in an bearish trend since it reached a new historical maximum (ATH) of $ 124,000 two weeks ago.
The goal is for Doge’s Stoch RSI to cross the 20
In a X publicationKevin Capital cryptographic analyst said that the goal is for Stochastic relative force index of Dogecoin (Stoch RSI) to cross level 20 and show a follow -up. He explained that anything below that level is a sign of weak impulse. This technical indicator is currently crossing up and is at the level of 13.
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This is significant, as Kevin pointed out that Stoch RSI monthly crosses in Dogecoin, outside the bears market and, together with a monthly RSI in height, finally leads to mass manifestations. In addition, he commented that the highest movement of the Dege cycle is likely if Bitcoin can move higher and Ethereum finally enters the price discovery with a fall BTC domain. The analyst added that Dege only needs a little more time for BTC and the macro to admit this movement.
At the time of writing, the price of Dogecoin is quoted at around $ 0.21, almost 2% in the last 24 hours, according to data of coinmarketcap.
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