One Level Could Trigger A Surge, Says Analyst
Crypto Kevin drilled Dogecoin’s price action in his latest live stream, highlighting a cautious and optimistic attitude towards the popular Meme Coin. In a speech to his YouTube audience, Kevin acknowledged the history of Dogecoin’s dramatic price fluctuations, but stressed that important technical levels could trigger the next substantial move.
When will Dogecoin’s next big move be?
Kevin Famous Dogecoin followed a new high after a large-scale rewind pattern in the previous bull market. “Look at these moves, right?” he said, “Every pullback Dogecoin gets in the previous bull market (56%, 57%, 53%) brings new highs. ” He emphasized the periodicity of the coins.
He also compared Dogecoin’s callback from 2022 to what happened to it Earlier cycles: “Dogecoin has corrected 65% so far and now has 58% corrections. We are doing the same thing as we have been doing.”
Although Dogecoin tends to rebound, Kevin highlights specific threshold levels that need to be recaptured. “Doge’s mission is to be completed, it’s about going back to the range of the macro gold bag and weekly bull market support bands, which are now $0.30,” he explained. From his point of view, “if Dogecoin starts shutting down every day Weekly candles above $0.30, I have no doubt that we will go back to the macro 0.786 (Fibonacci level)…that $0.48 level and then get higher from there.”
Asked about Dogecoin’s current outlook, Kevin warned that market conditions, especially Bitcoin’s performance, would have the final say. “Dogecoin won’t drive the market; where Bitcoin is going.” Dogecoin may be below the $0.30 barrier if Bitcoin stays sideways or tilts further.
His broader argument is that the entire cryptocurrency market, including Dogecoin, is in a state of anticipation. Kevin believes that key policy changes, such as Quantitative tightening (QT)improved inflation data or cut interest rates – could serve as another Altcoin Rally catalyst. As Dogecoin often closely tracks the general sentiment of Bitcoin and total market capitalization, wider macro changes may determine its trajectory.
“Doge(…) has not changed at any time, it can go down and lower it at $0.20. Currently, the path with the least resistance is lowered,” Kevin added. Nevertheless, he stressed that this could change suddenly if overall market sentiment improves and Bitcoin begins to rally.
Overall, Kevin stressed that broader market factors (such as changes) US monetary policy Or the overall rise in confidence in the cryptocurrency market – can “flip the switch” Dogecoin. He believes that a strong macro headwind may decisively exceed $0.30, which brings a return of $0.48 on the stage.
At press time, Doge’s trading price was $0.232.
Featured Images created with dall.e, Charts for TradingView.com
