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In his latest technical breakdown on X, analyst Kevin (@kev_capital_ta) emphasized a crucial threshold on the daily graph of Dogecoin. According to Kevin, recovering the $ 0.28 region on a weekly closure and then to put a clear follow-up Dogecoin on a path in the direction of re-testing his all-time highlights.
He notes: “Go back above the level of .28 cents on Dogecoin on a weekly closure and show it and my thinking process is that we do not attack the highlights too long after. I have assigned 0.25 cents on doge in the Patreon via the trading portfolio (apart from the long -term bag) in a place. Ready for both outcome. Let’s send this thing higher. “
When does the Dogecoin correction end?
The graph emphasizes a well -known metric called the Bitcoin Bull Market Support Band, applied here on Dogecoin, which consists of the 20 -week simple advancing average (SMA) and the 21 -week exponentially advancing average (EMA). Although this indicator was originally developed for Bitcoin, many analysts expand it to altcoins to determine whether the wider trend is bullish or bearish. In the current Dogecoin arrangement, this tire floats in the range of $ 0.282 – $ 0.286. Price dropped last week and now confronted with an important resistance zone between $ 0.27 and $ 0.29.
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In addition to the price levels, Kevin also points to two momentum studies. On the daily relative strength index (RSI), the yellow line above the corresponding advancing average has exceeded, which suggests that Beararish can be relaxed. The RSI is floating near 38, which is a remarkable support area around 27. In particular, the yellow RSI line is now again above its Pink Moving Average (MA) line. According to Kevin, this can be an early sign of an shift in sentiment if the continuous through purchasing continues.
Another important technical feature is the MACD (moving average convergence -diversion), which is approaching a bullish crossover. The MACD line is approaching the signal line and if this crossover is confirmed, it can generate a positive momentum for Dogecoin. Kevin marks this as a “pending daily bullish MacD Cross”, which, if validated, would add further credibility to the bullish prospect.
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In the larger diagram, the graph underlines that a solid weekly close to above $ 0.28 is the most important catalyst. This level is in line with the Bull Market Support Band, and if recently recovered, Dogecoin’s push to mid -0.30s or afterwards could accelerate, provided that broader market conditions remain promoting.
In another message, Kevin explained: “I’ve been saying it for weeks now while the rest has said his altea season. We are in a large correction period. These periods happen in markets in case you have never noticed. Crypto has been very sent from the macro, especially altcoins. We want to keep these levels on the total market capitalization if we want to feel good about this market, otherwise the correction can go deeper. In the meantime you cool out. Still billions of liquidity up to $ 111k on BTC that will eventually be taken. “
At the time of the press, Doge traded at $ 0.25.
Featured image made with dall.e, graph of tradingview.com
