While fluctuations in the crypto currency market continues, a popular breast coin is going through a process that makes it uneasy. The price of breast coin, which has fallen above 12 %in the last 7 days, still seems weak in technical analysis, but some indicators bring the possibility of a possible recovery. In particular, Ichimoku cloud and BBTREND indicators imply that sales pressure is reduced and a upward move may be close. As Kriptokoin.com, we transfer the details.
Leading breast coin sales can stop, is the return close?
Dogecoin’s current graph is analyzed with the Ichimoku cloud indicator. With the decline process that started at the end of March, the price dangled well below the cloud. This is considered a strong decline signal.
However, in recent days, the price has begun to approach the lower limit of the cloud. The return line rises towards the base line (red). This movement shows that the interest of the buyer is increasing. If the price manages to rise above the cloud, this may be the signal of a positive turn.
BBTREND Display: Although the negative zone continued, recovery started
The BBTREND indicator used for Doge is still below the -10 level, ie in the strong decline area. However, this recovery, which comes from -13.96 to -11.78, shows that sales pressure is gradually broken. Such low values often indicate extreme sales zones.
In such cases, the market may react to a short -term technique. Especially if the BBTREND starts to approach zero, investors can interpret this signal as a sign of recovery. Although the indicator is not expected to return to the positive for now, this recovery process should be closely monitored.
Can leader breast coin doge reach $ 0.20? Critical resistance and support
Another data that attracts attention in the technical analysis is EMA (exponential moving averages) sequence. The short -term averages are still under long -term average, which shows that the decline tendency continues. However, a possible breakage can make the target of $ 0.179.
If Dogecoin exceeds this resistance, the next target can be $ 0.20. However, in the opposite scenario, the price may decrease to the support of $ 0.16 and then to $ 0.14. For this reason, it is important that investors follow these levels closely. While the price pressure in Dogecoin continues, technical data gives hope. However, cautious optimism should be at the forefront until the break comes.
