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Dogecoin slipped to the lowest level in less than $ 0.168 last week before picked up the trading of about $ 0.19 on Tuesday morning, an increase of about six percent over 24 hours. The recovery was revealed in the locking step with Bitcoin’s recovery from the level of $ 106,800, technically charged, to a little more than $ 109,000, which reactivated the short -term decline companies through the Memecoin complex.
Dogecoin needs to overcome this price level
Technical analyst Kevin (Kev_capital_ta) Argue The FIB defense has regained the bullish structure – but only somewhat. “After going to. “Since it applies to the near future of ** DOGE, it has a lot of work. The great resistance in. 19-.
So bitcoin behavior is still pivotal. Spot BTC is hovering near $ 109,000 this morning, and has so far defended the 106,800 dollar axis by many prominent analysts, including Michael Van De Poppe, as “Linchpin for a Potential Group”. If Bitcoin extends towards a 120,000 to $ 1,30,000 band, Kevin argues that Dogecoin will separate from its dependence on the standard “when he leads dominance and stimulates the market policy.”
Crypto Pundit Chandler (“@Candlerchars”) is less exciting. Dog’s four-day lapse against DOGE/BTC, market clouds and relative oscillation, highlights three previously prepared GRY-where Memecoin failed to maintain superior performance against Bitcoin.
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“Even if Duji exceeds his highest level in November, he will not feel comfortable if Duj/BTC ends with less than what he was at November levels,” it ends in November. to caution. Chandler calculates that with BTC at $ 107,600, Dogecoin will have to print approximately $ 0.52 to reach a higher rise against Bitcoin. “If BTC extends to $ 120-130 thousand dollars, DOGE should be about $ 0.60+ for a DOGE contract to be logical on BTC.”
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This threshold emphasizes the importance of the supply zone from $ 0.19 to $ 0.21 visible on analysts. On the Kevin fabric, coincides with the FIB 0.618-0.703 collection; In Chandler’s, it interferes with the upper edge of an eighteen -month -old area that has repeatedly rejected upside down investigations. The decisive closure of more than $ 0.211 will put the May 11 summit at 0.2597 dollars in play, and most importantly for the bulls.
Currently, merchants see two numbers: 106,800 dollars on Bitcoin and $ 0.21 on Dogecoin. A clean break for the latter would verify the ups of the upper road map of Keven about $ 0.26 -0.28 dollars, in extension, the possibility of the Chamander’s higher scenario on the Dujc Cross/BTC. Until then, the fate of Mimikoen “remains in the hands of BTC’s ability to go up.”
At the time of the press, Dog was traded at $ 0.19.
Distinctive image created with Dall.e, Chart from TradingView.com
