How the technical analysis shapes the future of Dogecoin (Doge)

The world of cryptocurrencies has experienced a meteoric increase in recent years, Jackson Palmer and Billy Markus in 2013. And they attracted significant media attention.

The future of Dogecoin (Doge) and provides information about the cryptocurrency market.

** What is technical analysis?

Technical analysis, also known as recognition of graphic patterns or technical trade, implies identifying and studying historical price tables to make informed investment decisions. Technical analysts use various tools, such as types of graphics (for example, mobile averages, trend lines), indicators symbols (for example, RSI, Bollinger bands) and technical indicators (for example, fibonacci levels, support levels and resistance) to analyze price movements.

The emergence of Dogecoin (Doge)

Dogecoin was born from the Internet meme “Merry Christmas” in 2013. The early adoption of the currency was largely driven by its low market capitalization (approximately $ 100 million) and a relatively high negotiation volume.

Technical analysis in Dogecoin

Currency price movements over time:

• A line of bullish trend has emerged above MA, indicating a possible purchase pressure.

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• When prices turn to this level, it can be a sign of a possible reversion trend.

• candlebrosal patterns : Doge candlestick bullish.

INSIGHTS AND PREDICONS

Based on these technical indicators,

* In the short term (1-3 months) : The 50 days that move above the neckline, indicating that prices can continue to increase. A line of bullish trend will arise above the current price level.

* In the medium term (6-12 months) : The SMA of 20 perds and 50 perds will probably converge to form a long-term trend up, which can reach new maximums around $ 1.00 per currency.

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Conclusion

The technical analysis plays an important role in the configuration of the future of Dogecoin (Doge). When analyzing the movements, trends and patterns of historical prices, merchants and investors can identify possible purchase and sale signals. Graphics patterns, such as bullish trend lines, support levels and neckline, have provided valuable information about Dege market dynamics.