This article is also available in Spanish.
Dogecoin price is currently down -34% from its December 8 high of $0.4843. But according to cryptocurrency analyst Kevin (@Kev_Capital_TA), DOGE has one of the “best looking” charts at the moment. In new broadcast On X, he provided an in-depth look at Dogecoin, the broader market environment, and key technical indicators.
Dogecoin: price discovery or disaster?
Despite the current pullback, Kevin believes Dogecoin’s chart “is looking really nice right now” and appears stronger than many other cryptocurrencies: “This is a stronger coin compared to a lot of coins in the market. I mean Doge is looking really good here. (.. .) Doesn’t it look good a week from now of course it can, but it looks really good right now.
However, he stressed the possibility of a pullback in the short term – something that could take Dogecoin to the $0.026 region: “In the short term, can we go back down and test 26 cents? And I will put that out there (…) I don’t see any A real reason for the severe decline (…) but is it possible for us to come back here for sure?
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The range from $0.26 to $0.28 emerged as the critical juncture for Dogecoin’s near-term outlook: “As long as we stay above this level of 28 to 26 cents (…) I see no reason to be too afraid. If we break this level (…) then A loss of 0.26 cents at the weekly close would be catastrophic.”
Kevin traced this specific target back to November, when he first suggested that Dogecoin would revisit the golden pocket near $0.26. According to him, many were skeptical, but this level was eventually reached: “I was under a lot of pressure to make this decision back in early November when we were at 45 cents (…) and we ended up going back and testing that.”
Looking to the upside, Kevin identified a major resistance area between $0.30 and $0.35, calling it “very big resistance.” After that, he described the $0.94 to $1.00 price as “the next big zone,” although he cautioned traders against assuming a guaranteed rise.
For Dogecoin to break above its previous all-time highs and truly enter a “full price discovery,” Kevin wants to see a breakout above the 0.703 and 0.786 Fibonacci retracement levels — roughly $0.53 and 0.59 cents, respectively: “I don’t see anything holding a return Dogecoin from full price discovery (…) We want to break 53 cents (…) then 0.786 at 59 cents if we can break The 60 cent area permanently, I don’t see anything holding back Dogecoin.”
Drawing parallels to previous market cycles, Kevin highlighted how Dogecoin has historically checked the “bullish market support range” and overall support levels before a rally: “We went back, tested the support structure (…) the bull market support range in this “The course. This is very similar to (the previous course), you can’t deny the similarities.”
He described how Dogecoin’s current chart reflects its cycle patterns “almost insanely,” referring to a breakout followed by a falling wedge, an initial rally, and a retest of overall support: “Cryptocurrencies have this crazy innate ability to follow the cyclical nature of their performance. (.. .) It’s really amazing, really.
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Despite Dogecoin’s cyclical consistency, Kevin reminded viewers that external market factors and the performance of Bitcoin (which he called the “market leader”) can always derail patterns: “It’s clear that we need Bitcoin to cooperate. We can’t allow any crazy situations to happen.” At the world level.”
Kevin also examined the DOGE/BTC pair, noting the macro trend line and the test of the golden pocket: “We have this macro trend line (…) we broke out and are back in it. We are currently in a bull market support range (…) we came back and tested the macro golden pocket once Other.”
He stressed that if Dogecoin stays above this area on the DOGE/BTC chart, it should head higher. However, a breakout could create a problem: “Sort of like the 26 cent level (…) If we go down and break (…) it will coincide with a break of the bull market support range and this overall pocket of gold, in which case we could be… In a very deep state.
Kevin also looked into macroeconomic and geopolitical factors that could impact Dogecoin and the broader cryptocurrency space. He posited that President Donald Trump’s return to the White House in January would be “very optimistic” if it led to better regulations, less conflict, and pro-growth policies: “Trump will come into office in January, which means we will have an administration Crypto friendly (…) If we can end the war in Ukraine and Russia, it will be bullish for the markets (…) We can get inflation back to 2% and then start lowering interest rates faster.”
When and to what extent will DOGE rise again?
From December declines to Q1 optimism, Kevin notes how market participants often move forecasts forward by about a month. He noted that if January ends up volatile, February could be the point where markets begin their real climb: “Everyone thought October was going to be bullish. October wasn’t bullish. November was bullish. Now everyone thinks January is going to be bullish ( …) February may be bullish.
When pressed for specific price targets, Kevin pointed to several Fibonacci extensions and the Pi Cycle Top indicator on the Dogecoin chart: “If we break above the previous all-time highs, the next resistance area will be $0.94 to $1.32 (…)” $1.32 level, the next big resistance area I’m looking at is $2.19 to $2.78.”
But he explained that any long-term price forecasts depend heavily on technical indicators and confirmations. He highlighted multiple monthly indicators – MACD, RSI, Stoch RSI and Pi Cycle Top – as potential signals to exit positions: “I don’t care what the price is at that point (…) Once we get to that zone, I’m taking profits off the board.” “If the monthly indicators start flashing, I’ll get out.”
At press time, DOGE was trading at $0.32.
Featured image created with DALL.E, a chart from TradingView.com