In a notable shift in sentiment, crypto analyst Kevin, widely recognized as Kev Capital TA, has resumed buying Dogecoin as its price retraces to a significant support level around $0.095. In a recent video update, he highlighted this price point as critical, not only aligning with the measured move target of Dogecoin’s weekly bear flag but also marking a historically pivotal zone that has acted as both support and resistance in various market cycles.
Dogecoin’s price has seen considerable fluctuation since its peak near $0.49 in December 2024, and Kevin believes the current pullback has largely satisfied the downside targets he has been monitoring. He emphasized the importance of the $0.095 level, noting that it has previously served as a bottom before sharp rallies in late 2024 and across earlier periods in 2022 and 2023. “This is a major level,” he stated, referring to its role in previous market movements, including a significant ascent to 23 cents earlier this year.
However, Kevin remains cautious, refraining from declaring a definitive macro bottom for Dogecoin. He underscored that Bitcoin remains the dominant force in the cryptocurrency market. “Bitcoin is the captain,” he asserted, suggesting that altcoins like Dogecoin are influenced by Bitcoin’s performance. As such, his strategy for Dogecoin involves a gradual accumulation approach, contingent on Bitcoin’s trajectory in the coming weeks. He plans to increase his position if Bitcoin’s price dips further, potentially bringing Dogecoin down to levels around $0.05.
Despite some positive indicators in the market, such as improving weekly money flow and bullish signals on lower time frames, Kevin warns that Dogecoin still faces substantial technical resistance before a genuine trend reversal can be confirmed. He pointed out that reclaiming the 21-week EMA and 20-week SMA, situated in the low-$0.11 range, is essential for a more bullish outlook. Moreover, the monthly chart depicts a less encouraging scenario, with Dogecoin closing below the 100 EMA for the first time, indicating persistent bearish momentum.
For now, Kevin advises treating the market as a bear market, emphasizing that the current rally should be viewed as a countertrend rather than a definitive turnaround. He anticipates that the true bottom for this cycle may manifest between July and October, in line with historical patterns. As the crypto landscape continues to evolve, Kevin’s insights underscore the importance of monitoring Bitcoin’s movements, which remain crucial for the broader market dynamics. At the time of writing, Dogecoin trades at approximately $0.09558.