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Dogecoin momentum has changed spectacularly after macroeconomic developments and a series of solid technical signals, according to the cryptographic chartist Kevin (@kev_capital_ta). Yesterday, the wider market of cryptography jumped after President Donald Trump announced a 90 -day break on the prices for 75 countries, while increasing China prices to 125%.
The news sent Bitcoin over the threshold of $ 80,000 and has catapulted several major altcoins, including Dogecoin, higher. “The daily up divergence on Dogecoin begins to play here,” writes Kevin in his last update, while warning that “obviously macro news has the most to do with this, but nevertheless the charts gave us clues in advance in advance that the opportunity was not guaranteed but there.”
In the hours following the announcement of the price, Dogecoin joined about 13%, strengthening the signs of an increased divergence that Kevin pointed out for the first time two days earlier. “Dogecoin has come down once again to test the structure of the bull market” lines in the sand “and in a way, even if it clearly pierced earlier in the day was able to recover and close the daily candle slightly above this level of support,” he explained.
Kevin noted the parallel between the upward divergence of Dogecoin and that of Bitcoin on the daily time, suggesting that a renewal of optimism for Doge can be linked, in part, to the resilience of the main cryptocurrency above his own pivot support.
Kevin’s prospects are rooted in an assessment of several weeks of the technical posture of Dogecoin. At the end of March, he underlined a “weekly candle” and the “Haussier market support line”. He underlined how crucial Dogecoin remains to hold above the 0.139 brand.
He also described the upward potential of Dogecoin as “phenomenal” compared to the risk of losing this $ 0.139 threshold for multiple weekly fences. Fibonacci graphic retrace and extension levels suggest potential technical targets for Dogecoin which remain relevant for merchants in search of directional clues.
These levels start with 0.236 to 0.09038 $, 0.382 to $ 0.13827, 0.5 to 0.19039 $, 0.618 to $ 0.26216, 0.65 to 0.28529 $ and 0.70 to 0.3310 $. Higher, the 0.786 indicates $ 0.41339, the 0.88 is $ 0.5,4210, the level of 1.0.0.73839 $ and the 1.0866 is $ 0.9,93,337.
Further on the extension side, the 1,272 amounts to $ 1.54348 and the 1.414 appears at $ 2,26813. The analyst stressed that “as long as BTC has these levels and does not lose $ 70,000, I absolutely like this place on Doge”, stressing how the wider market trajectory could shape the path of Dogecoin along these technical markers.
However, the next few days reveal if Dogecoin can rely on the momentum that has emerged in the middle of the price of the market linked to prices – and if the well -used sentence “The trend is your friend” will keep Dogecoin enthusiasts in a state of optimistic mentality.
At the time of the press, DOGE exchanged $ 0.15751.
Star image created with dall.e, tradingView.com graphic
post url: https://altcoin.observer/dogecoin-bull-div-takes-place-the-analyst-maps-the-following-price-targets/