Technical analyst: Dujakin in an attractive area for purchase .. Is it time to enter?

The Dujakin coin returned to the spotlight again after a group of technical levels that some analysts consider a strong entry opportunity.

According to the analyst known as “Cantonese Cat”, the current price movement indicates what is known as the supporting market support test, which enhances the potential ascension hypothesis if prices stabilize over this region.

Emphasizing the broken direction

The technical analysis posted by the analyst via the “Trading View” platform shows a clear model on the weekly frame, as the price appears as it returns to the test of the descending trend line that was broken on July 16.

This line constituted an extended resistance for several weeks, and its fracture may indicate the beginning of a bullish shift, provided that the price was fixed above it.

At the same time, this technical area intersects with the range of supporting market support, which ranges between 0.19025 and 0.20703 dollars.

This range is often used by trend followers to determine whether the climb is continuing or if it will fail.

The current price movement draws attention

At the moment the graph captured, the DOGE price ranged between 0.18855 and 0.24860 dollars before closing at 0.19945 dollars, registering approximately 17% during the week.

This decrease comes after a two -week rapid rise that paid the price to the outskirts of $ 0.27, but it collided with sale.

The analyst believes that this decline is not a fracture of the upward direction but rather a re -test from the top, a sign often followed by a bounce if the price is held at the current levels.

The perspective of risk for the return

According to “Cantonese Cat”, the entry of the market at these levels represents a good opportunity in terms of the risk rate to the return, especially since the technical lines give a clear to the areas that can be determined as support or as a level to stop the loss.

But – as is the case with any technical analysis – this vision depends on the continuation of these levels in resilience and the lack of a new fracture of the bottom.