Is Dogecoin Ready to Break Out? Analyst Identifies Key Price Level

In the latest technical analysis posted on X, analyst Kevin (@Kev_Capital_TA) highlighted the important resistance level on Dogecoin's daily chart. According to Kevin, reclaiming the $0.28 area on weekly closing—and then showing clear follow-through—could propel Dogecoin towards retesting its all-time high. Please note: "Returning to the .28 cent level on Dogecoin when weekly closing and showing my monitoring and thought process is that we will attack the high level not too long after. I have allocated a long-term buying position at .25 cent on DOGE on Patreon through Trading Portfolio ( separately from the long-term bag ). Ready for any outcome. Let's take this higher."

When will the Dogecoin correction phase end? The chart highlights a well-known indicator called the Bitcoin Bull Market Support Band, applied here to Dogecoin, including the 20-week Simple Moving Average (SMA) and the 21-week Exponential Moving Average (EMA). Although this indicator was originally developed for Bitcoin, many analysts have expanded it to altcoins to determine broader trends of either increase or decrease. In the current Dogecoin setup, this range fluctuates within the $0.282–$0.286 range. The price dropped below this level last week and is now facing a significant resistance zone between $0.27 and $0.29. In addition to the price level, Kevin also pointed out two studies on momentum. On the (RSI) daily Relative Strength Index, the yellow line has crossed above the accompanying moving average line, indicating that selling pressure may be easing. The RSI is oscillating near 38, higher than the notable support zone around 27. Importantly, the yellow RSI line has now returned above the pink (MA) moving average line. According to Kevin, this could be an early sign of a change in sentiment if buying activity continues to follow. Another important technical feature is MACD (Moving Average Convergence Divergence), approaching a bullish crossover. The MACD line is nearing the signal line, and if this crossover is confirmed, it could provide positive momentum for Dogecoin. Kevin marks this as 'The daily MACD bullish crossover is pending confirmation,' which, if confirmed, will further strengthen the price outlook. In the larger scheme, the chart emphasizes that a strong weekly close above $0.28 is the key catalyst. This level is in line with the market's uptrend support range and if decisively reclaimed, could propel Dogecoin's rally towards $0.30 or higher, provided broader market conditions remain favorable. In another post, Kevin explained: “I have been saying this for weeks while others have been calling it altcoin season. We are in a major correction phase. These phases happen in the market that you have never seen before. Cryptocurrency is being controlled a lot from the macro, especially altcoins. We want to keep these levels on the Market cap if we want to feel good about it, otherwise, the correction may go deeper. Be patient during this time. There are still billions of dollars worth of liquidity up to 111,000 dollars on BTC that will eventually be realized.”