According to various backtesting studies on assets with volatility similar to Doge's, the trend reversal signal was accurate more than 50% of the time, which technically makes it an effective technical analysis tool that may in fact be used in practical trading strategies.
As tradfi markets open on Monday, Ethereum's volatility should return to normal, along with the volume and liquidity of the asset. Hopefully, positive sentiment prevails among crypto investors, especially after Jerome Powell's dovish speech about the next rate hikes and the overall state of the U.S. economy.Despite the depression that covered the market at the beginning of the month thanks to the FTX implosion, the cryptocurrency industry seems to be doing much better now.
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