Dogecoin Crashes 20%, But ‘Bull Line’ Signals Hope For HODLers

In the midst of a wider decrease in the encryption market, the price of Dogecoin has decreased by more than 20 % in the past 24 hours. However, the Kevin encryption analyst, which is published under the @Kev_capital_ta on X, reiterated his position that Dogecoin still holds the critical “market line” and builds a higher momentum if the wider market conditions improved.

Dogecoin should keep this price

In a new update, Kevin wrote: “Nothing has changed much on Dogecoin since my last post on 3/22. The signs of the high time frame are often reset as we keep the bull market line in the sand sands. This may not be the famous X that he takes at the present time, but engaging in few weeks.”

It refers to a post older than March 22, where he presented a comprehensive technical perspective on Dogecoin’s position. In this publication, he pointed to the price level of $ 0.139 as the “last line to support the bull market” of the currency, warning that the solid weekly closure without the multi -year -old landline line can indicate a deep shift in feelings.

He wrote in March: “My #Dogecoin community is at the time that I should offer you Alpha that you all want,” he wrote in March. “If we take a look at DOGE on the weekly time frame, we can see that we received a weekly request candle last week in” the last line of the bull market support “(which is $ 0.139) that I referred to two weeks ago. Reset.”

According to Kevin’s evaluation, these specific indicators – which are usually used to measure momentum and excessive conditions in excessive wealth or excessive work – are crucial for traders looking to determine when Dogecoin may then see an upward price swing. He also stated that the goal of Bitcoin is at least $ 70,000 if the bullish Dogecoin framework remains intact, with an emphasis that the conditions of the broader encryption market often determine the high -house of high -house altcoins like Dog.

Dog opposite. Global liquidity

In yesterday’s publication, Kevin deepened in the context of the macroeconomic economy, with the global liquidity index overlooking the Dogecoin price plan. As he put it, “If we look at #DogeCoin with the accumulated global liquidity index, you can see that we are at a very interesting point here. In the record scheme, Doge returns to the point test that was the entire bear market group that lasted from May 2021 to 2024.”

This reference confirms the range of the long bear market on the extent to which the DOGECOIN price has traveled between 2021 peaks and subsequent decreases. He also explains that this region coincides with the “Macro.

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Kevin attributes a large share of the trend of encryption to the wider liquidity conditions, where she wrote that “global liquidity has shown that throughout history a major driver of risky assets prices, especially #Altcoins,, and we can see here that it was perfectly trading in this descending channel since May 2022, which is attached to the central bank’s tightening of monetary policy around the world.

When the global monetary authorities begin to collapse or at least slow the pace of high interest rates, liquidity levels may begin to rise again. In its evaluation, this mitigation can provide, even if it is gradual, the fuel needed to penetrate in both the liquidity of the market and the price of Dogecoin. “Based on date, I think it is likely to start collapse here. If the link remains correct as over the years, this rear test on Doge in particular provides one of the best risk reward rates that you can request in long -term entry or playing the swing,” while showing that failure to get $ 0.139 “will be less than the point of the seller.

At the time of the press, Dog was slightly lower than the “bull line” of Keven and was trading at $ 0.13558.

Distinctive image created with Dall.e, Chart from TradingView.com