After Dogecoin temporarily fell by more than 22% yesterday amid rumors of a \u201cBlack Friday\u201d, the price has since been able to recover at least some of its losses. Nevertheless, DOGE is still down around 11% since the start of the week. This has put the price of Dogecoin in a tricky situation.<\/p>\n
Dogecoin breached a critical ascending support line before quickly recovering, a behavior that crypto analyst Kevin (@Kev_Capital_TA) describes<\/a> as testing the \u201clines in the sand\u201d for this ongoing bull market structure.<\/p>\n Related Reading: Dogecoin Crashes 20%, But \u2018Bull Line\u2019 Signals Hope For HODLers<\/a><\/p>\n Kevin\u2019s shared chart indicates that DOGE temporarily dipped below a rising pink trendline that has been in place since mid-2023, yet managed to close the daily candle back above this historically significant support around the $0.138 region\u2014a level that also coincides with the 38.2% Fibonacci retracement level measured from the $0.049 swing low to the approximately $0.738 peak.<\/p>\n The analyst points out that, despite the intraday break, DOGE\u2019s recovery formed what he calls a \u201cclean bullish divergence\u201d on the daily time frame, referencing the Relative Strength Index which has begun climbing even as price made a slightly lower low. He likened this development to a similar divergence unfolding on Bitcoin\u2019s chart, suggesting that Dogecoin\u2019s momentum may be stabilizing<\/a> after a series of drawn-out declines from the $0.48 high set early December last year.<\/p>\n Charting Guy (@ChartingGuy) weighed in separately, highlighting that Dogecoin has arrived once more at its weekly 200 EMA zone\u2014an important trend marker hovering in the mid-$0.13 range\u2014and that its overall structure still shows \u201chigher highs, higher lows\u201d when viewed on a broader timescale.<\/p>\n His posted chart also features a Fibonacci analysis which shows that DOGE could manage to close above the 0.382 Fib level, reinforcing the notion that DOGE\u2019s ability to hold above $0.15 could be a crucial gauge of bullish continuation.<\/a> Failure to sustain this level, however, would risk revisiting deeper Fibonacci support levels, including the 23.6% retracement near $0.09 or even the 13.6% level around $0.07.<\/p>\n On the upside, traders may look to potential resistance zones in the mid-$0.20s, which line up with the 61.8% Fibonacci retracement at roughly $0.2671, and the high-$0.30s to low-$0.40s range tied to deeper retracement zones up to the 78.6% mark.<\/p>\n The chart watcher also notes that a retest of the prior swing highs above $0.40 would align with an extended push toward the 88.8% Fibonacci near $0.56, although market participants remain cautious amid the broader volatility that is brought to the market by US President Donald Trump\u2019s tariff policies<\/a>.<\/p>\n At press time, DOGE traded at $0.149.<\/p>","protected":false},"excerpt":{"rendered":" After Dogecoin temporarily fell by more than 22% yesterday amid rumors of a \u201cBlack Friday\u201d, the price has since been able to recover at least some of its losses. Nevertheless, DOGE is still down around 11% since the start of the week. This has put the price of Dogecoin in a tricky situation. Dogecoin Forms […]<\/p>\n","protected":false},"author":0,"featured_media":57604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57603"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57603"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57604"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}DOGE Uptrend Remains Intact<\/h2>\n