Dogecoin Price Holds Key Support Levels Amid Bullish Signals

Technical analyst Kevin, widely recognized on X as @Kev_Capital_TA, reignited the debate surrounding Dogecoin’s market structure on Sunday. He urged traders to disregard the constant technical analysis on Dogecoin, which he believes is often used for engagement purposes, and instead focus on the two key signals that have guided the meme-coin’s price for over two years. Kevin emphasized that the fundamental structure of Dogecoin has not changed significantly, and traders should concentrate on the essential indicators that have historically driven its price movements.

Kevin’s analysis is based on a weekly chart he posted on 26 June. At that time, Dogecoin was trading near $0.166, sitting on an ascending support cluster that has defined every major move since the 2022 bear-market washout. According to Kevin, whenever Dogecoin has hit this level, it has experienced significant bounces. He highlighted that a failure to hold the weekly RSI level along with the $0.143-$0.127 price range would indicate a longer-term bearish trend. Conversely, holding these levels would suggest continued bullish momentum.

The chart shows Dogecoin positioned just above a confluence of the green 0.382 Fibonacci retracement ($0.13778), the upper boundary of a falling trend line that has been in place since May 2021, and the weekly 200 SMA and EMA. Kevin previously stated that these levels are crucial for Dogecoin’s support. Below this confluence lies the horizontal “line in the sand” at $0.143-$0.127, which Kevin has marked with bold yellow trend lines.

Below the price pane, the weekly Relative Strength Index (RSI) tells a similar story. Kevin has drawn a white band just above the 40-line, which the yellow RSI profile has tapped five times. Each of these touches coincided with a price trough, as indicated by the orange circles on the main chart. The oscillator’s simple moving average, plotted in magenta, has curled below 50 but remains above the 40-support, maintaining the pattern’s integrity.

Overhead, Kevin’s chart maps a hierarchy of Fibonacci checkpoints: the 0.5 retracement at $0.18988, the tightly stacked 0.618 ($0.26169) and 0.65 ($0.28548), and the 0.786 ($0.41317). Two large violet supply boxes—one between $1.00 and $1.30 and another around $2.20 and $2.70—represent potential bull run targets. Kevin refrains from forecasting the timeline for reaching these zones, emphasizing that holding the current support cluster is the prerequisite for any higher-time-frame bullish thesis.

In a follow-up post, Kevin expanded his analysis to the broader digital-asset landscape. He argued that the biggest moves for altcoins have yet to occur and tied potential breakouts to macro-economic easing. According to Kevin, if macro-economic conditions lead to further easing and the market responds positively, the ingredients will be in place for a massive move higher in altcoins. He noted that altcoins have always required the right conditions to outperform Bitcoin for extended periods and that these conditions are closer than many realize.

Kevin’s message is clear: traders should focus on the weekly RSI band and the $0.143-$0.127 price shelf. As long as these levels hold, Kevin sees no reason to change his structural bias, regardless of the crowded commentary stream surrounding Dogecoin. At the time of reporting, Dogecoin was trading at $0.172.