Journalist
Posted:
- Dogecoin shows several hausse-like signals, especially with RSI on the 4-hour diagram.
- Doges The activity has been steady, with daily active addresses and electoral movements at key levels.
Dogecoins (Dogge) Diagrams revealed critical hausse-like signals through its 4-hour relative strength index (RSI) and price channels.
RSI, deeply rooted in the oversold territory with a reading close to 48 at press time, suggested a potential turn for Dogecoin’s award.
This was reinforced by RSI’s upward Trending channel, which indicates a strengthening momentum despite the Doges price channel.
In addition, Doge showed a raised divergence when the tested top of its broken channel, close to $ 0.255 at the time of writing.
This retest represented a critical moment – either confirms a hooked turn or failure, which could resume the drop.
Source: Trader Tardigrade/X.
If ‘King of Memecoins’ is maintained above the top of the channel, it may ignite a rally against the next resistance of $ 0.27. If the price breaks over $ 0.27, Doge may return to $ 0.5 level and potentially $ 1 before the middle of the year.
Conversely, a failure to stay above the tested level could see Dogge slip back to support about $ 0.24, which repeated Memecoin’s volatility and speculative character.
Each movement, whether a break or a bounce, will be crucial to determining Doge’s path in the coming days.
Dogecoin’s activity on the chain stabilized
Doge’s activity diagram reflected a steady level of commitment with its network despite the price fluctuations.
The number of daily active addresses is consistently adapted to significant transaction volumes and electoral transactions, which indicates a solid fundamental interest in Dogge.
In December, daily active addresses topped at the same time as an increase in transaction volume, which indicates increased activity that temporarily supported a price increase.
Noteworthy, electoral transaction bills for transactions over $ 1 million showed temporary nails that correlated with both price peaks and troughs, which suggested potential important market movements after these activities.
Source: Ali/x
At the press time, the price of Dogge was $ 0.252, with transaction volumes suggesting robust activity despite a downward trend.
If this level of activity persists or increases, it can signal a potential haussey reversal for Doge that can drive a $ 1 movement.
Conversely, a decline in these measurement values can promote the baisse -like trend and emphasize the importance of long -term high levels of commitment to price recycling.
An uptick in electoral transactions in combination with increased active addresses can catalyze a rally.
However, if these measurement values decrease, it can confirm a continued price decline, and emphasizes the critical role for network activity to determine Dogecoin’s market direction.
