Dogecoin’s latest price movement has stalled at a critical level of resistance, Prevention of a bullish outbreak over $ 0.28. As such, the Meme coin is now in the fighting again to keep the support of $ 0.25. Interestingly, the technical analysis shows that this recent rejection of 0.28 USD A has caused a Failed predicted breakout Technical indicators above.
In particular, the crypto -analyst Kevin (@kev_capital_ta) pointed out on the Social Media platform X that Dogecoin did not get back the macro golden pocket and the weekly support band. leads to bears developments.
Dogecoin rejected macrow resistance, weakens the optimistic view
It was dotecoin With an extended return From $ 0.48 in the past eight weeks. This extended withdrawal was further highlighted by an interruption below 0.3 US dollars Early February Until on February 3, a low low point of around 0.22 US dollars. Despite this strong withdrawal, there were still bullish prospects, especially since Dogecoin trends upwards immediately afterwards.
However, Dogecoin has recently rejected the technical indicators to cause a bullish feeling. After Technical analysis through Kevin (@kev_capital_ta), the Dotecoin price rejected timeframe diagram in the 3-day candlestick. This rejection caused DGEs to win back the failure of winning back the macro gold bag and the weekly Bull Market Support Band.
The golden bag is a remarkable Fibonacci retracement zone, which often stipulates whether an asset is higher or the rejection is available. In this case, Dogecoin’s failure to keep above this level indicates that the purchase of dynamics is currently weak.
Without a clear breakout above the macro gold bag and the weekly Bull Market Support Band, Dotecoin could continue to be between 0.22 and 0.28 US dollars without a clear upward trend.
Bitcoin holds the key while old coins fight
Kevin warned that Altcoin diagrams can be misleadingEven if they look promising. Instead of fixing insulated movements on dotecoins, it is better to monitor Bitcoin exactly, since each significant price shift in the The Bitcoin price will probably dictate The next step for Dogecoin and other old coins. If Bitcoin manages to keep over 95,000 US dollars and to exceed over $ 100,000, it could offer Boost Dotecoin to finally break through the Makro Goldenpock and the weekly Bull Market Support Band.
Bitcoin is currently acting Without a clear bullish trajectory below 100,000 US dollars, which is included in other cryptocurrencies. At the time of writing, Bitcoin is 95,208 USD 1%in the last 24 hours. Doge acts with $ 0.251, 4.65% in the last 24 hours and 24% and 24% since the beginning of February. The next task is currently not to lose support from $ 0.25, since an interruption of less than $ 0.25 could limit up to $ 0.22 in more declines.
Selected picture of iStock, diagram of tradingview.com