Dogecoin’s latest price movement has stopped at a critical level of resistance, prevents a haussearted outburst Over $ 0.28. As such, the MEME coin is now back to fight to hold over support of $ 0.25. Interestingly, technical analysis shows that this latest rejection to $ 0.28 has caused a Failed predicted eruption above technical indicators.
In particular, crypto analyst Kevin (@kev_capital_ta) on Social Media Platform X pointed out that Dogecoin has failed to regain Macro Golden Pocket and the weekly Bull Market Support Band, leading to baisse articles.
Dogecoin is rejected by macrom opposition, weakens hausseartan prospects
Dogecoin has been In case of an extended retracing from $ 0.48 over the past eight weeks. This extended retrake was further highlighted by a break under $ 0.3 At the beginning of February Until it reached one was about $ 0.22 on February 3. Despite this heavy retracing, there were still haus -like views, especially when Dogecoin began to trend upwards immediately after.
However, the latest price measures in the last three days have seen Dogecoin reject again and failed to break over technical indicators to cause a raisy feeling. In accordance with to technical analysis of Kevin (@kev_capital_ta), the Dogecoin Prize has rejected the 3-day Candlestick-Time Fram table. This rejection caused Doge’s failure to recover Macro Golden Pocket and Weekly Bull Market Support Band.
Golden Pocket is a remarkable Fibonacci retracing zone that often dictates if an asset continues higher or faces rejection. In this case, Dogecoin’s failure suggests keeping above this level that it is currently weak to buy speed.
Without a clear outbreak above the Macro Golden Pocket and the weekly Bull Market Support Band, Dogecoin can continue to vary between $ 0.22 and $ 0.28 without any clear upbreak.
Bitcoin has the key when altcoins fight
Kevin warned of it Altcoin -diagram can be misleadingEven when they look promising. Instead of fixing on Dogecoin’s isolated movements, it is better to monitor bitcoin carefully, as all significant price shifts in Bitcoin price is likely to dictate Next move for dogecoin and other altcoins. If Bitcoin manages to hold over $ 95,000 and squeeze higher over $ 100,000, it can give the Boost Dogecoin needs to finally break over the Macro Golden Pocket and Weekly Bull Market Support Band.
Bitcoin currently shopping Without a clearly haus -like path Under $ 100,000, which has flowed into other Cryptocurrencies. At the time of writing, Bitcoin is traded at $ 95 208, with 1% over the past 24 hours. Dogge is traded at $ 0.251, a decrease of 4.65% over the past 24 hours and 24% since the beginning of February. The next task right now is not to lose the support of $ 0.25 as a break under $ 0.25 can cascade to more reductions up to $ 0.22.
Image from iStock, chart from tradingview.com
