Dogkin continues its attempts to restore the upscale momentum after a period of weak performance, the currency has declined by more than 5% during the past seven days, and it has been trading below the level of $ 0.25 since the end of last February, and despite the emergence of some positive indicators recently, most technical signals still reflect a downward tendency with the main resistance levels remain an obstacle to any attempts to rise.
The Ishimoko cloud indicates the continued descending direction as the EMA has a negative position, while the price moves below the decisive areas that confirm the bullish direction, however some other indicators such as the BBTREND index and momentum signals began to improve, pushing traders to monitor the possibilities of nearby penetration.
Ishimoku cloud keeps selling pressure on
The current graphs of the Dujakin, according to the Ishimoko Index, show the continued formation clearly, as the price moves below the red “Komo” cloud in the near term, indicating poor purchasing power at this stage.
The Blue Transformation Line (Tenkan-Sen) is located below the Red Foundation (Kegeon-Sen), which enhances the negative view in the short term, and the price is repeatedly failing to bypass the tencan-Snn line that turns into a dynamic resistance that hinders the construction of a sustainable upward momentum.
Although the cloud began to gradually move from red to green in the expectations area, which may hint on a change in market morale, the thickness of the current cloud reflects the presence of a strong resistance area that will require strong purchasing momentum to penetrate it, and so that the price can enter the cloud or overcome it, the general trend remains negative.
On the other hand, the horizontal bottom of the cloud may act as an attractive factor for the price, but the continuation of the climb will depend on the ability of Dujakin to convert this cloud into a future support area.
A sharp reflection in the BBTREND index supports positive momentum
The Badjakin’s BBTREND index witnessed a remarkable reflection towards the positive area, as it climbed from -3.14 to 2 in just one day, and this indicator measures the strength and direction of the price movement compared to the borders of Bolinger Band, as positive values reflect a growing purchasing momentum while negative values indicate selling pressure.
The index’s transition to the positive area indicates a change in the market’s trends and growth in purchasing power, which may pave the way for a possible recovery stage, and although this transformation does not confirm alone the beginning of the long -term upward trend, it is often an early signal that precedes more gains, especially in the event of increasing trading sizes and the movement’s confirmation of the price later.
Some traders in this improvement see an early monitoring sign in anticipation of the continuation of the upward trend if supported by additional factors.
0.206 dollar barrier trend key … or a possible drop of about $ 0.168
The Autoal Mobile Mediterranean lines of the Dujakin are still in a negative position where the short -term averages remain below the long -term, which reflects the continuation of sales pressure, and in the event that the current recovery fails to gain more strength, the price may return the support level test at $ 0.168, which succeeded in withstanding during the last sessions, and this level may turn to a price attraction for the price if the purchasing momentum continues.
On the other hand, if Dujakin succeeds in penetrating the resistance barrier at $ 0.206 with the support of an increasing purchasing momentum, it may open the door to a broader upper reflection, and then the following goals become at 0.232 dollars, and perhaps 0.254 dollars if the positive momentum continues.
