According to an analysis by technical analyst Kevin (@Kev_capital_ta), Dogecoin (DOGE) can occur on the tail of another huge rally. They believe that the current improvement indicates the pattern closely that determines the stage for the explosive advantage of Dogi during its previous bull cycle. In his view, the price of Dogi in the days to be measured by percentage is almost similar to the final run, suggesting that the meme coin is now ready to prepare its next major leg up if bitcoin (BTC) stable Is.
Is DogeCoin set to explode from 1,400?
Dressed before going down to $ 0.20 on Monday crashed from about $ 0.33 to $ 0.20 to about 40%in just three days. The rapid recession took place on the goods from Canada and Mexico last Friday with the announcement of US President Donald Trump. As a fear of a business war through financial markets, investors ran to transfer their money to safe property, causing Dogo to fall by about 25% on Monday and not seen since November 8 last year. Pulled it down at levels. Bitcoin was similarly impressed, slipping up to $ 91,200 as part of the broad market sales.
Trump on Monday revealed a deal with Canada and Mexico, which reduced some concerns on tariffs, reversing the flying flying with cryptocurrency. According to Kevin, the rebound speed thesis supports that Dogcoin has already completed its second important corrective stage of this bull run. He points to the previous cycle of the coin, where two large drops occurred before an extended bounce in the price. The most recent drop of about 40% in Dogge, in his words, “drops in the same and percentage of the previous cycle,” evidence that history can repeat.
In a pre -chart, Kevin underlined the specific fibonacci extension levels, if Dogi follows the trajectory similar to his last bull run, may serve as future goals during an abduction. He $ 0.2867 on 0.618 FIB, $ 0.30 on 0.65, 0.786 fib $ 0.41, $ 0.59 on 0.886 FIB, $ 0.59, $ 0.74 at 1.00 fib $ 0.74, 1.0866 fib $ 0.93, 1.272 Fib, $ 2.28 FIB, 8 FIB, $ 2.28 FIB, $ 1.57, $ 1.57 identified, and $ 3.95 on 1.618 fib.
He flagged off $ 0.93 as an area of immediate resistance, indicated by a blue box on his chart, and another possible supply area near $ 2.28. He then exposed $ 3.95 (1.618 FIB) as the final upside objective, if the speed of rapid speed persists. The increase at this price level will represent an increase of more than 1,400%.
The emphasis on repeating historical pattern centers has been the idea that recent market unrest has concluded the second major improvement of Dogi, which took place in its previous cycle. With this step now, possibly behind it, Meme coin can be deployed for an important run if the position of the macro remains stable and bitcoin, which is often seen as a market anchor, does not falter.
As Kevin said, “In my opinion #DogeCoin completed its second major improvement of his bull cycle. The droplets were very similar in terms of the same cycle and percentage. If all is cured with #BTC then # Doge should start the next leg soon. “
Although it remains to be seen whether the price action will be revealed in the same way as Kevin’s chart shows, a sharp bounce by $ 0.20 has hoped traders that Dogge can actually mirror his last bull run. . Further weeks can prove to be important, especially if the coin first pushes above the major resistance levels.
At the press time, Dogcoine traded at $ 0.26.
Image made with Dall.E, chart from traudingview.com
