He noted, "It will continue to be absolutely vital that Dogecoin hold this level while it resets higher time frame indicators like the 3 Day MACD, Weekly Stoch RSI and 2W Stoch RSI all of which are getting very close to being fully reset.” By referencing these oscillators, Kevin underscored that Dogecoin’s momentum profile seems to be approaching a state in which downward pressure could dissipate and bullish forces could resurface.
If we take a look at DOGE on the weekly time frame we can see that we received a weekly demand candle last week at the Last line of bull market support’ that I pointed out a couple of weeks ago.” Analyst Sees Big Move Coming For Dogecoin He emphasized the significance of $0.139, calling it vital that Dogecoin maintain this level and explaining that, in his opinion, this zone represents a rare opportunity with "phenomenal” risk-reward potential.
Related Reading: Dogecoin Faces 1929-Style Reckoning, Bloomberg’s McGlone Warns Even so, he said, "If I were ever looking to properly allocate into Doge then I would definitely take advantage of this spot from a trade perspective,” reflecting his belief in the coin’s potential to remain stable in this range and potentially rally once those higher time frame indicators fully reset.
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