Dogecoin price enters the historical apostasy area, but will this time be different? star-news.press/wp

Dogecoin has Back to The familiar price range, which was historically as a starting platform for bullish movements. In the last time frame for 4 hours, Dogecoin is now approaching $ 0.168 to $ 0.172, which is a level bounced before this month. Although this price is low, the MIM currency is Technically, ready for the upscale reflectionWith the behavior of the relative strength index (RSI), it is alluded to a potential transformation in the momentum.

The next support test with the refusal of Dogecoin to a familiar area

The Cogecoin price scheme for 4 hours reveals a distinctive support area that was a major reverse area on three separate occasions during the past ten days. Every time Dogecoin decreases in this area, the feet quickly found and pushed up. The latest candle procedures show the original Now pay towards this area again, Inviting questions about whether the bounce pattern itself will be repeated.

This phenomenon was I noticed first on R.It is the social media platform X by Traderigrade, analyst Crypto. Interestingly, the support area is characterized by multiple touches of the wick, which indicates the purchase of interest every time the Red District price enters between about $ 0.1663 and $ 0.1720. Although Dogecoin was in the direction of a wider drop since its peak about $ 0.207, as shown in the graph below, its support has so far been intact.

What makes this preparation to be particularly noted is the RSI structure associated with the graph for 4 hours. Although independent calories are low in the price, the relative strength index constitutes a series of its lowest levels, which are an early sign of hidden bullish difference. This difference indicates that the basic momentum gradually turns in favor of buyers, even if the price procedure is not completely reflected.

The analyst behind the graph notes that every time Dogecoin enters this region, the oscillating RSI support line prevents decline to the lowest level. Technically, this indicates that there may be an increasing force below the surface, which can pave the way for a crowd if the external market conditions are like Tensions in the Middle East Do not hinder the preparation.

Will this apostasy repeat the last two or collapse instead?

The big question now is Whether this third test of the support area will lead to another recovery or if the pattern becomes very predictable. If another recovery occurs, this will eventually reach above $ 0.2. However, if the RSI support collapses along with a low price To a certain collapse, At least in the short term.

As of the current chart, RSI is still higher than the upward support line, and the price is currently higher than the lower border of the region, while maintaining hopes alive For another upward step this month. At the time of this report, Dogecoin is traded at $ 0.1738, a decrease of 2.4 % over the past 24 hours.

Distinctive photo of Pixabay, Chart from TradingView.com

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