19 hour ago
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Dogecoin Rebounds 13% From Key Support Level at $0.138
Dogecoin is showing a strong rebound from its key support level of $0.138, which is seen as a potential low point in its current correction phase.
Key Points:
- Crypto analyst Kevin identified $0.138 as a critical support level, coinciding with the 0.382 Fibonacci retracement and the rising 200-week simple moving average.
- Dogecoin recently bounced from a low of $0.13443 to $0.152, indicating a gain of over 13% at its intraday high.
- The strength of Dogecoin's support at $0.138 is linked to Bitcoin's performance, which has also shown signs of recovery.
- Bitcoin rebounded from $86,184 to $93,958, supporting the idea of a counter-trend rally in the crypto market.
- A successful hold above $0.138 for Dogecoin depends on maintaining above the macro 0.382 plus 200-week SMA, as well as Bitcoin confirming its rally.
At the time of reporting, Dogecoin is trading at $0.14976.
