Dogecoin News Today: Dogecoin at Key Support Amid Bearish Technical Outlook

Dogecoin's near-term bullish momentum appears to be in jeopardy, with analyst Kevin (Kev Capital TA) warning that the memecoin is in the early stages of a breakdown pattern. In a late-August 25 livestream, Kevin outlined a bearish technical setup, noting that DOGE's price structure has devolved into a symmetrical triangle formation, a classic signal of a potential reversal after a rally [1]. He emphasized that the cryptocurrency is no longer in control of its own price action and is increasingly tethered to Bitcoin’s performance [1].

The analyst identified a key support zone between $0.195 and $0.189 as critical for the bulls. This range aligns with the 0.5 Fibonacci retracement level and the 100 and 200-day exponential moving averages (EMAs). If DOGE falls below this cluster, Kevin warned that the next level of support could be as low as $0.16, with deeper historical support levels at $0.147 and $0.137. "If Dogecoin loses that, very likely it’s coming back down to the trend line… anywhere from 16 cents," he stated [1].

On the upside, resistance remains formidable. Kevin noted that the $0.285–$0.261 range has repeatedly failed to break, acting as a cap on DOGE’s upward momentum. This includes Fibonacci checkpoints at 0.703 (~$0.329) and 0.786 (~$0.413), none of which have been convincingly cleared [1]. The analyst warned that any attempt to breach these levels without substantial follow-through could be a liquidity trap, urging investors to avoid buying at emotional highs.

Kevin also highlighted the strong beta relationship between Dogecoin and Bitcoin. When Bitcoin rises and dominance falls, DOGE tends to perform well, as seen in a recent rally when BTC increased by 3.5% and DOGE surged by 11–12%. However, in an “ETH season,” where Ethereum outperforms, DOGE has lagged, reflecting the broader altcoin sentiment [1]. This dynamic suggests that DOGE’s fate is inextricably linked to Bitcoin’s next major move and the shifting flow of capital within the crypto ecosystem.

The analyst’s tactical advice is clear: investors should focus on buying DOGE at major support levels rather than chasing momentum at the top. He emphasized small, risk-aware allocations and warned against overextending into weak positions [1]. According to Kevin, the “crash” scenario is not about dramatic downside targets, but rather the mechanical outcome of a price structure breaking down below key support levels.

At press time, Dogecoin traded at $0.21, holding above the 200 EMA on the daily chart [1]. However, Kevin’s outlook remains bearish in the short term, with the $0.19–$0.20 zone described as the “lifeline.” A sustained breakdown could initiate a rapid descent toward $0.16 and eventually the $0.14–$0.127 support area.

Source:

[1] Dogecoin Crash Incoming? Analyst Warns Bulls Are Out Of Time https://www.newsbtc.com/news/dogecoin/dogecoin-crash-analyst-warns-bulls-are-out-of-time/