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In an analysis by Crypto analyst Kevin (@kev_capital_ta), Dogecoin (Doge) emerges as an altcoin that defies current market skepticism, with technical indicators that suggest a bullish continuation instead of a peak.
Dogecoin is still bullish
Kevin’s newest after On X, Dogecoin’s performance emphasizes its 50 and 200-day simple advancing averages (SMA). “Dogecoin still sees rapid expansion on the 50 and 200 simple advancing averages after the weekly Golden Cross took place,” he noticed. This Golden Cross, a bullish indicator where the 50-day SMA crosses over 200-day SMA, suggests persistent upward impulse.
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Kevin further investigated the Fibonacci retracement levels and pointed out that Dogecoin is “above the macro -golden bag with 0.26 cents and fights against the Macro .786.” The ‘Golden Pocket’ – usually located between 0.618 and 0.65 Fibonacci levels – is often considered a crucial support zone. Kevin states that the preservation of a price above this level is bullish.
“If you think this graph is in its current location, you need some help. Is not going to focus on individual Altcoins, because BTC will determine the next step in the market, regardless of what you look like altcoin graph, but had to remind people who are bad, how crazy they look when we are for the same price true We were against in November when the market was collecting hard. Nothing has changed and bike stops do not occur when everyone is bearish, “Kevin explained.
Kevin also illustrated the whimsical character of the sentiment of Crypto market, contrasting reactions from November and January. “When Dogecoin hit 0.35 cents in November, everyone shouted at the hills that they were so bullish. Doge at 0.35 cents in January, everyone shouts that doge sucks, I should have selled this thing a long time ago. Do you see how market psychology works? Quite interesting, ‘detailed.
Bitcoin must first move
Kevin also discussed the influence of Bitcoin on the wider cryptomarket and emphasized his role as a leading indicator for altcoins such as Dogecoin. He labeled Yesterday’s market reaction to the Crypto Executive Order by US President Donald Trump as a non-impact in the long term.
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“BTC is not the 1,703 FIB on 106.8k not broken. Although we have gone from this bullish -falling channel on the daily period, we have not seen any real money flow in the active if something has been taken in the past 48 hours. Trump’s Executive Order was an obvious buy it rumor, the news event sells like all events, so for me that was always a nothing hamburger, “he went out.
Despite these challenges, Kevin remains optimistic about Bitcoin’s potential for recovery. “I still think that we experience seasonal influences in BTC, because in January there are always really bad months, especially in the postal finger year. I believe that the goal should be to demoralize and make asleep as many investors as possible before they start the next leg higher, which should come within the next 1-3 weeks. Stay informed! “He predicts.
At the time of the press, Doge traded at $ 0.35.
Featured image made with dall.e, graph of tradingview.com