Analyst identifies Dogecoin weekly ADX mirroring

Analyst identifies Dogecoin weekly ADX mirroring 2020 setup ahead of its last major rally.

Notably, Dogecoin (DOGE) has declined by 2.22% in the past 24 hours, trading at $0.1737, and remains down by 9.08% over the last seven days.

However, according to a recent analysis, the Average Directional Index (ADX) on Dogecoin’s weekly chart may be pointing to a developing trend shift. The ADX, used to measure trend strength, is now replicating a historical setup from late 2020 that preceded a major rally.