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Dogecoin slipped to a low almost $ 0.168 last week before slamming higher to exchange approximately $ 0.19 Tuesday morning, up approximately six percent over 24 hours. The rebound took place in locking stage with the own recovery of Bitcoin, from the technically invoiced level from $ 106,800 to just over $ 109,000, invigorating short -term drop buyers in the Memecoin complex.
Dogecoin must conquer this price level
Kevin technical analyst (@kev_capital_ta) arguments that the FIB defense has restored the upward structure, but only up to a point. “After going down to the .382 FIB, Dogecoin finally found the support he needed with BTC finding support at 100K,” he wrote. “As it goes for the immediate future of ** DOGE, he has a lot of work to do. A great resistance to .19-.21 Cent must be broken in order to return to this level .26-.28. The indicators on the daily delay are optimistic. ”
Bitcoin behavior is therefore essential. Spot BTC oscillates nearly $ 109,000 this morning and has so far defended the $ 106,800 pivot reported by several high -level analysts, including Michael Van de Poppe, such as “Linchpin for a potential rally”. If Bitcoin covers the group of $ 120,000 to $ 130,000, Kevin maintains that Dogecoin will decline from his dependence on the reference “when domination and the market sniff the relaxation of monetary policy”.
Crypto Pundit Chandler (“@chandlerchars”) is less optimistic. The superposition of the four -day Doge / BTC price price, market capitalization and an oscillator relating to force, its graph highlights three previous compression phases – Gray has brought back – where the same has failed to maintain outperformance against Bitcoin.
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“Even if Doge breaks above his peaks in November, he will not feel well if Doge / BTC finds himself much lower than it was at the summits of November”, he warned. Chandler calculates that with BTC at $ 107,600, Dogecoin should print approximately $ 0.52 simply to reach a higher summit against Bitcoin. “If BTC amounts to $ 120,000, DOGE must be about $ 0.60 + to keep DOGE to make sense on BTC.”
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This threshold highlights the importance of the supply area from $ 0.19 to $ 0.21 visible on the maps of the two analysts. On Kevin’s canvas, he coincides with the FIB cluster 0.618-0.703; On Chandler, he rides the upper edge of an eighteen-month value area which has repeatedly rejected upward probes. A decisive closure greater than $ 0.211 would place the summit of May 11 at $ 0.2597 at stake and, more Especially for bulls.
For the moment, merchants are looking at two numbers: $ 106,800 on Bitcoin and $ 0.21 on Dogecoin. A clear break from the latter would validate Kevin hassled roadmap Around $ 0.26 to $ 0.28 and, by extension, continue to live the possibility of the higher scenario of chandle on the Doge / BTC cross. Until then, the fate of the same “remains in the hands of the capacity of the BTC to go higher”.
At the time of the press, DOGE exchanged $ 0.19.
Star image created with dall.e, tradingView.com graphic
