Dogecoin Price Could Rally If It Reclaims This Fibonacci Level

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Dogecoin price is currently trading within a tight range as analysts evaluate its next potential move. Recent technical analysis has focused on specific price levels that could influence future movement. They suggest that a shift in broader crypto momentum, combined with a crucial Fibonacci level reclaim, may set the stage for a renewed, explosive upside for DOGE . Dogecoin Price Faces Key Test At $0.138 Dogecoin has been trending downwards for months now, as it faces pressure from ongoing volatility and an overall market slowdown . Although DOGE’s price remains below $0.13 after declining consistently over the past few months, crypto market analyst Kevin has outlined conditions under which the meme coin’s price could recover and see a strong upside soon. Related Reading Analyst Reveals Bitcoin Make Or Break Level Amid Campaign For $90,000 1 day ago In an X post on Tuesday, Kevin pointed to the $0.138 level as a critical area that must be reclaimed on a strong higher time frame three-day to one week closes. According to his view, such a move would mark a meaningful shift in Dogecoin’s momentum and signal renewed strength after an extended period of consolidation . He also disclosed that a recovery would open the door to a potentially massive price rally for the meme coin. The analyst explained that reclaiming the $0.138 level would place Dogecoin back above a key macro Fibonacci retracement around 0.382. This Fibonacci level has acted as an important dividing line between bearish and bullish market phases in the past. As a result, a move above it could suggest that long-term buyers are regaining control. Source: X Kevin also emphasized the significance of the 200-week Simple Moving Average (SMA) on the chart, noting that it often serves as a key support or resistance level during significant trend changes. A decisive move above this key level would validate the analyst’s bullish perspective, signaling that Dogecoin could be nearing the end of its correction and preparing to transition into a stronger market phase. Notably, once this structural change occurs, Kevin’s chart points to the next major liquidity and resistance zone, which sits around $0.46. Dogecoin Price Rally Tied To Bitcoin’s Momentum In his accompanying chart, Kevin shows that Dogecoin is currently trading sideways within what appears to be a DCA zone. This range reflects extended consolidation where price has failed to make a decisive move in either direction. Related Reading Analyst Shares ‘Cold, Hard Truth’ For Bitcoin Investors As Price Struggles 1 day ago The chart setup suggests that any meaningful breakout in Dogecoin’s price would likely coincide with renewed strength in Bitcoin . Kevin notes that Bitcoin reclaiming the $88,000 to $91,000 region could support bullish momentum across the crypto market and influence a potential price rally for Dogecoin . A move toward this range would require the leading cryptocurrency to rally by approximately 2-6% from its present price level. Without that confirmation, the analyst believes that DOGE may continue consolidating within its current narrow range. DOGE price continues to trend low | Source: DOGEUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com