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.