The price of Dujakin is close to the RSI level .. Will the rises come back?

After a strong rise in Dujakin in July, the currency entered a wave of correction similar to what most of the digital currencies are currently going through.

As it lost the support level at $ 0.2, the bears seemed to have regained control of the short -term trend.

However, many investors still stick to optimism, considering that this decline does not exceed being a temporary movement in the context of a greater rise.

Technical indicators that support the ascension scenario

According to the analysis of the expert KrisPax, Dujakin still shows positive signals despite its current decline.

The analysis indicates that the currency is on its way to reach the level of 30 on the RSI index (RSI) in the time frame for 4 hours, which is the same level that was a start to the rise of 70% last June.

At that time, Dujakin fell to approximately $ 0.14 and then a strong wave of rise began for weeks.

Today, while the currency trades around the level of $ 0.2, Krisspax sees that what is happening is the formation of a higher bottom, a pattern often translated later into higher price peaks.

What may happen if the scenario is repeated?

If the style itself is repeated, i.e. RSI drop to less 30 again and followed by reflux; Dugkin may witness a new rise that may pay the price to about $ 0.34, an increase of approximately 70% of the current levels.

But even in this scenario, the currency will still be more than 50% of its highest peak ever at $ 0.74 it achieved in 2021.

Dogkin’s performance in August .. under pressure

With the end of July, with a strong increase of 27.1%, Dujakin has begun with losses, with a loss of about 5.31%, according to the data of the Cryptorank platform.

These losses are in line with a regular negative pattern, as August is known as one of the most declining months in the performance of the currency.

In the event that this historical trend continues, the month may end with an average loss of 10%, which weakens the hopes of rapid rise in the short term.