This article is also provided in Spanish.
In the latest technology failure posted on X, Kevin (@KEV_CAPITAL_TA) emphasized the pivotal threshold in Dogecoin’s daily chart. According to KEVIN, I was able to set up Dogecoin as a way to test the highest level of history by regaining $ 0.28 of the area per week and showing a clear follow -up.
He pointed out: “Beyond the Dogecoin’s .28 Cent, the following show is done, and my thoughts don’t take too long since then. I was assigned to the point of .25 cents in Patreon’s dog through the trading portfolio. Preparation of both results. Send this thing higher. ”
When will Dogecoin correction end?
This chart emphasizes a well -known metric called Bitcoin Bull Market Support Band. Here, it consists of a 20 -week simplified moving average (SMA) and a 21 -week index moving average (EMA) applied to Dogecoin. The indicator was originally developed for Bitcoin, but many analysts expand to Altcoin to determine whether a wider trend is optimistic or weak. In Dogecoin’s current settings, this band moves to the range of $ 0.282- $ 0.286. The price fell down last week and faced the main resistance area between $ 0.27 and $ 0.29.
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In addition to the price level, Kevin refers to two momentum studies. In the daily relative strength index (RSI), the yellow line suggests that the weak pressure can be relaxed beyond the accompanying moving average. The RSI exceeds the notable area of support for 27, close to 38. The yellow RSI line, in particular, is now inferior to the pink movement average (MA) line. According to Kevin, this may be an initial sign of the change of emotions if the following purchase continues.
Another important technical feature is MACD (moving average convergence) that is close to optimistic crossover. The MACD line is approaching the signal line, and if this crossover is confirmed, you can create a positive exercise for Dogecoin. Kevin indicates this as “every day’s strong MACD cross.” If it is proven, more trust will be added to the optimistic outlook.
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In a larger plan, the chart emphasizes that a company with more than $ 0.28 is a key catalyst every week. This level is consistent with the Bull Market Support Band, and if it is decisively recovered, you can accelerate the Dogecoin for more than $ 0.30.
In another post, Kevin explained: We are in the main correction period. This period occurs in the market if you do not notice it. Encryption is very driven by macros, especially in Altcoins. If we feel good about this market, we would like to maintain this level from the total market cap. Otherwise, the correction can be deeper. In the meantime, cool it. In BTC, up to $ 11.1 million has still reached billions. ”
Doge was traded at $ 0.25 for the press time.
DALL.E, major images made with charts on TradingView.com