The encryption analyst says Dogecoin Price Breakout is a programmer, here is the reason

Dogecoin has spent the past few weeks in fluctuation in a narrow range, with price frequency around the level of $ 0.17 And facing fixed pressure Near the resistance area $ 0.185. Despite many attempts to pay up, Mimi’s currency lacks continuous momentum Until the past 24 hours After Bitcoin break above $ 100,000 again. Tardigrade’s last analyst dealer refers to upward feelings, indicating this The next Dukwin leg It is a programmer and a total of the specified date.

Dogecoin march is programmed due to a 29 -day course

According to Trader Tardigrade, Dogoin price shows an interesting regular rhythm. Noting the plan that follows Relative power index (RSI) Against the daily candle price scheme from Dogecoin, the analyst indicated that every 29 days, Dogecoin completes a cycle ending with a fracture.

The exact sequence now happened three times: every time it is followed by a sharp march. The accompanying photo of his message shows three distinctive RSI outbreaks diverged after 29 days, each began a strong upward step in the Dogoin price.

This repeated cycle appears to be driven by RSI rolling vulnerabilities. The first hack occurred in early March, while the second collapse occurred in early April. In each of the previous two occasions, the RSI of Dogecoin formed a descending trend line that was completely broken like the course reset, which sent the price procedures to the top. Now, with the latest RSI rolling line, the 29 -day time separation again, the other programmatic conditions are, in the words of Tardigrade, “on time.”

Programmer

The technical basis behind Trader tardigrade predicts RSI behavior. RSI is a momentum index often used to detect potential or continuity in prices. In the case of Dogecoin, RSI has constantly reset it down as it decreased to the bottom of the sale levels on March 9. However, the past two cases led to a slow accumulation, in the end above the local resistance line. It is worth noting that the RSI commander occurs in the exact same time break as shown in the previous two gatherings.

Green stocks appear on the graph, which is placed immediately after each RSI’s outbreak, a clear and sharp prices, which indicates these moments at the beginning of the upward stages. If this pattern continues, Dogecoin may enter another strong upward phase that can exceed $ 0.20. In particular, the measured step based on the previous play the target of the next psychological resistance area is about $ 0.24. This target price is frequented with a Various technical expectations, Which depends on the formation of the head and shoulder appears on the daily time frame.

At the time of this report, Dogecoin is traded at $ 0.1971, an increase of 9 % and 8.9 % in 24 hours and seven days respectively. This last upward trend is caused by the last Bitcoin break above the psychological price level of $ 100,000.

Distinctive image from Getty Images, Chart from TradingView.com