As the market becomes on its profits from last week, the price of Dogecoin has been put at a strict point with respect to the continuation of its upward trend. Until now, bulls have managed to stay above $ 0.2, but for how long it is still a mystery, especially as the volume stagnates this time. However, it is not bad news for the meme coin, since a cryptographic analyst has indicated some bullish formations in the Dogecoin price table.
The bullish impulse is still being formed for the price of Dogecoin
While the winds against current in the cryptocurrency market have become bassist, there could still be some hope for the price of Dogecoin. As a cryptographic analyst shows in a commercial vision publication, there are still some levels in which Dogecoin’s price is seeing the demand. This shines in the 960 -minute table, which has become the main focus.
According to the analyst, there is a great demand that is presented to Dogecoin at this level. This demand has not decreased and has become stronger as the market has fallen and the price of Dogecoin has been followed. In the future, the analyst explains that also if the price drops from here, then there is still a strong demand for Dux at this level.
With this accumulated demand, the price of Dogecoin has moved to test the recent level of rupture. This is the area above $ 0.22 where the price of Dogecoin began its last movement up. A new test and a successful rest of this level could confirm a bullish continuation for the price.
However, there is still a lot of pressure from the bears that have already pushed Dogs again below $ 0.22 at the time of writing this writing. Therefore, the next support zone has now moved to $ 0.2073, since the analyst stands out in the publication. In addition to this, there is also a descending trend line resistance that the meme currency is testing.
The importance of this resistance of the descending trend line cannot be exaggerated, since it acts as a brand or breakup level for the price. A break would be bullish and the price would move up. But a break below this line of trend and invalidate support at $ 0.2073 could be catastrophic for the price.
Another development that suggests a bullish impulse is in the 60 -minute table. Here, the cryptographic analyst indicates the formation of a header pattern and reverse shoulders. This pattern is historical bullish for the price of dogecon. But it is still important that the cryptocurrency leaves the line of trends before there can be a continuation of the upward trend that is last week.