20 January 2025
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Dogecoin Shows Signs of Bullish Move as Support Levels Hold
Technical analysis suggests a potential bullish move for Dogecoin (DOGE) if current support levels are maintained. Crypto analyst Kevin noted DOGE has been trading in a downward trend for over a month but is rebounding off a key resistance line.
Key Points
- DOGE briefly dipped to $0.345 but closed above the trend line, indicating resilience.
- Current price is around $0.38–$0.39, with a critical need to hold above this level.
- Bitcoin's market dominance at nearly 59% may impact altcoin performance, including DOGE.
- Altcoins like DOGE could struggle unless Bitcoin dominance falls below 54.51% and USDT dominance drops below 3.7%.
- A recent memecoin launch linked to Donald Trump has added volatility to the market, affecting established projects.
- A decisive bounce above the $0.40-$0.41 region may strengthen Dogecoin's bullish outlook.
At press time, DOGE traded at $0.38.