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The Crypto Kevin analyst has provided an update on the structure of Dogecoin prices, stressing how several technical elements have converged to support his thesis according to which the meme piece remains on the right track despite the recent volatility. The graph, which he shared two weeks ago for the first time, reveals a confluence of the Fibonacci trace levels, descending yellow macro-trend lines and the positioning of the 200-week SMA (simple moving medium) and EMA (exponential mobile average).
Dogecoin follows “the plan”
According to Kevin, these convergent signals have collectively allowed Dogecoin to carry out a Critical macro back testA process that – if necessary – can often pass a market from a corrective phase to a new more optimistic phase. “We still have work to do people, but so far, everything will plan for Dogecoin,” wrote Kevin today via X.
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In the heart of its point of view is the level of retracement of 0.5 fibonacci around $ 0.15382, which Dogecoin currently oscillates. Derived from the larger swing of the room, the retrace of 0.5 generally indicates a balance point in a larger market movement.
This level is also believed with the yellow downward trend lines which have defined the Macro Resistance to Dogecoin from its previous peaks of the Haussier market. The synergy between this level of retracement and the retest of the trend line is one of the main reasons why Kevin believes that the withdrawal remains ordered and “everything will plan”. More above, the next Fibonacci de Dogecoin stage is the level of 0.236 almost $ 0.28013 (red horizontal strip) which should probably be overcome for a more definitive positive trend to develop.
Below the current trading ranges, the graph highlights a group of potential support levels, including the Fibonacci marker 0.618 around $ 0.11767 and the 0.65 trace almost $ 0.10,10,924. Although there is no guarantee The price will drop At these thresholds, Kevin notes that if additional consolidation should occur, the part could find stability in this area.
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Additional additional recovery points include the level of 0.786 around $ 0.08035 and the extension of $ 0.04,942, which, in previous cycles, provided significant rebounds for tokens undergoing prolonged corrections.
Meanwhile, the weekly medium -sized moving in blue on the graph, in particular the SMA and the 200 -week EMA, offer an additional context for School in the longer term. They are currently taking place just below the driving price of Dogecoin, forming another layer of support.
Kevin’s analysis also cites the 3 -day RSI motion data (relative force index), indicating that RSI readings were almost historically low levels for Dogecoin. Low RSI readings can sometimes suggest that a market is argued, which in turn increases the prospect of a rescue rally or a wider turnaround if other bullish catalysts emerge.
He referred to four focal points which he identified for the first time in a position two weeks earlier: the retest of the Macro 0.5 Fibonacci zone, the confluence of the downward trend line, the rear test of the SMA and the 200 -week EMA, and the RSI values ​​in particular low. He also pointed out that the overall Bitcoin resilience, as well as the evolution of macroeconomic data and monetary policy of the Central Bank, could shape whether the Dogecoin price can capitalize on these technical signals.
“If the BTC holds and the macroeconomic data and the adjustment of monetary policy, you just had your last opportunity to buy a relatively cheap Dogecoin. Many factors in play and a lot of work to do, but the risk award at this level is superb given the circumstances,” concluded Kevin weeks ago.
At the time of the press, DOGE exchanged $ 0.1885.
Star image created with dall.e, tradingView.com graphic
