Dogecoin's (CRYPTO: DOGE) price rally is supported by key metrics, creating a clean trading pattern, according to prominent analysts.
What Happened: Prominent analyst Kevin noted in an update in his exclusive Patreon group that DOGE is tracking his previously outlined roadmap, with recent price action aligning with key support and resistance levels.
Kevin highlighted that the meme coin is currently finding support around the $0.215 zone, which aligns with both the 0.382 Fibonacci retracement and the 200-day exponential moving average.
He believes this confluence makes it a strong structural level, and even if DOGE loses this zone, major support remains intact.
"With such a nice move to the upside", even a cool off, the structure remains bullish, Kevin said. The plan remains simple: "go up, cool off, and go up again."
He also pointed out that Bitcoin must break into price discovery mode to give altcoins the green light for further gains.
Kevin reminded followers that he was accumulating during DOGE's lows, when sentiment was bearish.
Also Read: Dogecoin Down 1% But This Pattern Signals A Breakout Is Imminent
Why It Matters: Crypto analyst Ali Martinez added further bullish context, noting that Dogecoin whales have accumulated more than 1 billion DOGE during this 47% rally over the past month.
In a separate post on X, Martinez pointed to strong on-chain signals, including a surge in active addresses, increased transaction volume and elevated whale activity.
All of them suggest continued upside for the meme coin.
Read Next:
- Dogecoin Jumps 4%: Can DOGE Hit $1 Soon?
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