Dogecoin (CRYPTO: DOGE) was trading about 1.5% lower on Friday, in sympathy with the cryptocurrency sector and the general markets, which saw Bitcoin (CRYPTO: BTC) and the S&P 500 trading down about 1.5% and 1.2%, respectively.
At press time, Dogecoin had bounced up from its low-of-day price, which caused the crypto to form a hammer candlestick patterns on the daily chart.
A hammer candlestick pattern forms when a red or green candlestick prints, with a long lower wick and a short upper body, which resembles a hammer.
A hammer candlestick, when found in a downtrend, can indicate a reversal to the upside …
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