Dogecoin Holds Above $0.139, Bullish Trend Intact

Dogecoin’s price movement has been closely following the technical “blueprint” outlined by crypto analyst Kevin. On Sunday, Kevin reaffirmed that his strategic roadmap, initially laid out on March 22, remains intact. The weekly chart shows an extended descending channel, marked by multiple yellow trend lines that originated in 2021 and constrained price action throughout 2022.

The most critical horizontal threshold in this formation is $0.139, labeled as the “Last line in the sand.” Kevin emphasizes that maintaining durable weekly closes above this level is crucial for further upside. A decisive break beneath $0.139 would invalidate the bullish thesis. Kevin’s chart indicates that Dogecoin’s retracement from highs near $0.45 earlier this year has been contained by a confluence of support channels and Fibonacci retracement levels. The primary Fib levels range from roughly $0.049 at the lower bound to around $2.268 at the 1.414 extension.

Intermediate Fibonacci markers are noted at $0.090, $0.138, $0.190, $0.262, $0.413, $0.542, $0.738, $0.934, and $1.543. With the price hovering near $0.16–$0.17 at press time, Dogecoin has remained above the 0.382 retracement near $0.138, reinforcing Kevin’s argument that the risk-reward ratio at this level appears “absolutely phenomenal.”

Kevin’s March 22 update highlights the confluence of several higher time frame indicators, including the Weekly Stochastic RSI, the 3-Day MACD, and the 2-Week Stochastic RSI, all of which are nearing full resets. The previous weekly demand candle, formed just above $0.139, is seen as a key sign that buyers are defending the “Last line of bull market support.” The Weekly Stoch RSI is already at low levels, while the 3-Day MACD and 2-Week Stoch RSI are roughly a month away from bottoming out. These technical resets are expected to serve as a springboard for Dogecoin’s next significant upward move, provided that Bitcoin remains stable enough to support broader market strength.

On Sunday, Kevin reminded his audience that this strategy is going “exactly according to plan,” given Dogecoin’s confirmed bounce around the $0.139 region and the ongoing drift toward oversold conditions in multiple momentum gauges. He disclosed that his Patreon trading portfolio holds an average entry at $0.15 for this swing. A swift rejection of sub-$0.139 weekly closes, coupled with the bullish stance of the higher time frame indicators, corroborates his confidence in Dogecoin’s recovery potential.

While acknowledging that significant work is needed for Dogecoin to reclaim higher levels near the 0.618 Fib around $0.262 or the 0.786 Fib at $0.413, Kevin maintains that his initial thesis stands as long as the meme-inspired asset preserves its foothold above $0.139. The risk of a breakdown is well-defined if the pivotal support gives way, but should the level persist, he sees the upside potential extending far beyond the current range. As of now, Dogecoin’s price continues to cling to that all-important line in the sand, keeping Kevin’s bullish blueprint very much alive.