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Kevin, a technical analyst known in X as @kev_capital_ta, highlights what he describes as “low at the exact level he’s been paying attention to for the past few months.” In a post accompanying the chart, the charter pointed to the confluence of a macro 38.2 percent Fibonacci retracement, from the 2021 history high to the low yield last year and the depth of the bare market to the long-term fall resistance line that has served as support. Before rebounding to the current 0.18 region, the spot price is $0.138 – the numerical position of that 0.382 retracement.
Possible paths for Dogecoin
Kevin argues that images of higher time frame momentum are beginning to change. “Weekly RSI has reached an exact level of low since returning to the depths of the bare market.
At the same time, the one-week odd RSI already produces bullish crossovers, while the two-week crossover is “pending”.
From a risk-reward perspective, Kevin argues that asymmetry remains compelling. “As I said a few weeks ago, Doge’s risk reward rate was incredible as your drawbacks were minimal and the benefits were greater,” he said. A member of his Patreon community revealed that he “gets a considerable number of entries at 0.15 cents and has a stop loss set at Break.” In his view, the only component missing is tail wind from macroeconomic data. “To continue the momentum, positive macro data is needed and drives the process.”
Related readings
The chart shows a set of overhead Fibonacci extensions and retracement levels that map potential resistance zones when the rebound matures to trend inversion. The first and closest is a 50% retracement of $0.19039. It matches the bottom of the broken trend line and becomes the next technical gatekeeper.
More than that, a 61.8% retracement sitting at around $0.26216 marks a golden threshold that often distinguishes itself from a corrective rise. The 65% level minor cluster that appears on Kevin’s chart at $0.28522 represents a mid-range hurdle before attacking a 78.6% retreat, with prices around $0.41339.
Related readings
If Dogecoin regains its zone, a 100% full retracement of nearly $0.73839 will restore the entire previous decline, while a shaded violet band over $1 indicates an expansion area that officially guides price discovery.
Important Factors
Kevin’s framework is not limited to the Doge pair itself. In another post, he set the short-term Bitcoin dominance (BTC.D) target at 65.45%, identifying it as “macro.786 FIB.” He expects that level will impose resistance on the metric and create “altcoins” in the meantime. [have] Opportunity to receive a bid. ” In the case of Dogecoin Bulls, the BTC share stall in the Crypto market could rerout liquidity towards the Meme-Asset Complex when the technical background is constructive.
Despite recent bounces, Kevin emphasizes that neither Bitcoin nor the wider altcoin basket has entered a parabolic stage comparable to previous cycles. “BTC or Altcoins have never moved to the parabolic stage,” he wrote, attributed Muted Slope to “a lack of liquidity leading to lower monetary policy and social risk.”
Analysts believe the dynamic changes are warning that timetables are being stretched by what they call “a mistake by central banks and governments after the pandemic” as “global liquidity begins to rise and monetary policy begins to ease.”
For now, Memocoin, which began as a joke, remains connected to macro conversations. The base of the momentum reset synchronized with the 0.382 FIB provides a technical springboard, but Kevin’s paper and Dogecoin’s path to higher FIB targets such as $0.26, $0.41 rely on a wider cycle that offers more wider cycles than ever before.
At the time of pressing, Doge traded for $0.175.
Featured images created with dall.e, charts on tradingview.com
