Dogecoin’s price is consolidating around a key support level at $0.138, which analyst Kevin (@Kev_Capital_TA) identifies as crucial for determining if the coin’s bullish trend will continue despite recent declines. Sharing a weekly DOGE/USD chart on X, Kevin highlighted this level as a significant convergence point, combining the 0.382 Fibonacci retracement, the 200-week simple moving average, and an upward-sloping trendline from the 2024 lows. He views this cluster as a structural support for the current market cycle, not just a temporary one.
As of November 23, Dogecoin was trading in the mid-$0.14 range after a sharp weekly drop, testing this support zone. Kevin stressed that the concern isn’t short-term fluctuations but whether the price closes below this level over three days to a week, which would signal a breakdown. On his chart, the $0.138 area lies just below the current price, aligned with the 200-week SMA and the rising trendline. Resistance is noted around $0.18 to $0.20, with further support near $0.09 if the price falls further. He warns that the bullish trend remains only if Dogecoin holds above this base; a break could quickly turn it into resistance.
Kevin links Dogecoin’s outlook to broader market conditions, particularly Bitcoin’s performance and liquidity. He contrasts the current environment with 2022, when high inflation, aggressive Fed policies, and market euphoria led to a downturn. Now, he points to easing monetary policy, potential economic expansion by 2026, and subdued inflation as positive factors, occurring amid widespread pessimism rather than optimism. This mix of technical vulnerability and macroeconomic support makes trading challenging, emphasizing the importance of key levels like $0.138, reminiscent of the 2019 macro environment.He described the current period as “the most confusing time in history for crypto markets,” noting that while Bitcoin has been relatively predictable this year, he suspects that won’t last. “I have a feeling everyone is about to face a major surprise over the next year and a half,” he said. “The era from 2011 to 2021 is over. Global economics and trends have shifted since COVID.”
In this context, Dogecoin’s support level at $0.138 represents a critical point where the market will determine whether broader economic factors from 2019 or current technical patterns from 2022 will prevail. However, Kevin’s advice to traders is more straightforward: this zone is crucial for the bull run because it’s where Dogecoin’s long-term trendline, its 200-week average, and its key Fibonacci level all converge. At the time of reporting, DOGE was trading at $0.146.
Frequently Asked Questions
Of course Here is a list of FAQs about the topic Analyst Dogecoins Bull Run Hinges on This Key Price Level designed to be clear concise and helpful for all levels of investors
Beginner Definition Questions
1 What is a bull run
A bull run is a period when the price of an asset like Dogecoin is consistently rising or is expected to rise significantly Its a sustained upward trend in the market
2 What is a key price level
A key price level is a specific price point that traders and analysts watch closely If the price holds above or breaks below this level it often signals the next major direction of the trend
3 Why is one price level so important for Dogecoin
Because it acts like a support floor If Dogecoin stays above this level it shows buyers are in control and a bull run is more likely If it falls below it could mean a drop to lower prices as sellers take over
Specifics of the Current Situation
4 What is the key price level the analyst is talking about
For this analysis lets assume the key level is 012 This is a simplified example of a level that has been important historically
5 What happens if Dogecoin stays above this key level
If it holds above this level it builds confidence This could attract more buyers increase trading volume and potentially trigger the start of a new bull run as momentum builds
6 What happens if Dogecoin breaks below this key level
A break below could trigger a selloff Traders who bought near that level might sell to limit losses which could push the price down further to find the next level of support delaying any potential bull run
7 Is this key level a guarantee of a bull run
No it is not a guarantee Its a critical signal that analysts use A bull run depends on many other factors like overall market sentiment Bitcoins performance and new positive developments for Dogecoin
Advanced Strategic Questions
8 How do analysts determine these key levels
They use technical analysis looking at historical charts to identify prices where the asset has