After a brief display of bullish impulse on Thursday, Dogecoin began its bass price action, falling as low as $ 0.201. In 1 month, the Doge price has decreased by almost 40%, which caused speculation about a possible pestper market phase. However, dog memes currency could still experience a rebound as it moves to a key zone.
Ask for the block area of ​​the area of ​​an upward trend for Dogecoin
Dogecoin has faced a bearish pressure, which makes its price re -test the previous support levels. Meanwhile, the expert in the market and merchant of investors tardigrade has revealed An upward trend in the recent Dege price action.
Deepening Dogecoin price actionTrader Tardigrader stressed that the Memes currency has entered a crucial order block area for a substantial purchase or sale activity that can determine the future trajectory of the shares. Order blocking areas during augmented volatility often serve as strong levels of support or resistance.
Currently, many large limit orders are waiting to be executed in this area. When this area is full of orders, trader tardigrade trusts that Dege will move up in the coming weeks.
Experts anticipate an upward trend for DOGE Since the previous scenarios preceded significant demonstrations in the following weeks, as seen in the daily table. In the event that the purchase pressure increases as Dege is quoted within this order block area, this could light a bullish impulse, which allows you to claim key resistance levels and possibly a new maximum of all time.
TO Key pattern Cited in the 4 -hour time table is supporting Doge’s potential for a bullish trend. In another x mailTrader Tardigrade pointed out that the meme coin has formed a double background graphic pattern, an indicator that generally indicates an ascending trend.
If Dogecoin effectively performs the formation of the background table, its upward movement is expected to resume. Looking at the expert table, the employer could cause a rebound to the level of $ 0.22 in the following days.
While the double fund suggests a growth impulse, the relative force index of Doge (RSI) has suffered a bullish breakdown of a horizontal resistance line. This breakup is likely to support the The same cornerThe anticipated price recovery triggered by the background pattern.
Doge open interest tanks in recent months
Open Interest of Dogecoin (OI) He has declined sharply along with his diminishing price movements. Technical Expert Ali MartÃnez reported A decrease of more than 67% in Doge’s open interest in the last 3 months. This represents a fall of its historical maximum of $ 4.07 billion in December to approximately $ 1.33 billion today.
Surprisingly, investors are beginning to demonstrate interest in Doge in the middle of the current price drop. In the chain data It shows that large investors or whales have returned to the market, acquiring to a large extent Dogecoin. These whales They have accumulated more than 530 million Dux in the last 72 hours, indicating confidence in their long -term perspectives.
Outstanding image of Shuttersock, TrainingView.com graphics
