Crypto expert Kevin, known online as Kev Capital TA, said he has resumed buying Dogecoin after the memecoin returned to what he described as a long-term support near $0.095. In a movie published on April 20, Kevin argued against the situation because it is in line with what you want to follow Dogecoin’s weekly bear flag and the price point that has repeatedly been support and resistance in the past.
Dogecoin May Be Close to Major Exchanges
Kevin said Dogecoin’s correction from its December 2024 rally to near $0.49 has now achieved its goal that it has been seeing for months. “Once you get a bear flag-type move, you’re at the same price as the move,” he said, putting the target at about $0.095.
That level, in his view, is not merely a target but an important part of history. Kevin also referred to August 2024, when Dogecoin bottomed near the same area before performing strongly in the fourth quarter, as well as previous periods in 2022, 2023 and early 2024 when the group acted as resistance, support, or retracement. “This is a big part, isn’t it? This is a big part,” he said. “You found support here in January 2024 before we went up to 23 cents. You found support here in the summer of 2024 before we went up to 49 cents.”
Collaborative Reading
Even so, Kevin stopped calling macros down in Dogecoin. Its larger structure remains based on Bitcoinwhich he repeatedly described as the primary market indicator. “Altcoin charts don’t live in their own country,” he said. “Bitcoin is the captain. Bitcoin is the king. Bitcoin is the queen. Any way you want to put it, any way you want to slice and dice it, that’s how the market works.”
This fact also influenced his entire theory of Dogecoin. Kevin said that he has started the position at the current levels, but as part of a gradual expansion plan that depends a lot on how Bitcoin performs in the coming weeks. “As part of our private team I have started a position in Dogecoin under these conditions,” he said. “My goal is to continue to distribute in it if I get an opportunity. If Bitcoin was a leg lower … then I hope to find an opportunity and then slowly, gradually distribute in Dogecoin all the way to $0.08, $0.07, $0.06, maybe $0.05.”
His close reading is encouraging, but only marginally so. He also pointed to the correction of the weekly flow of money, buy signals, vertical movement in the weekly RSI stochastic, and the strong reversal of the LMACD in the lower frames as evidence that the market is in the end of winter, the beginning of spring. But he argued that Dogecoin still faces a heavy technological ceiling before traders can talk about real change.
Collaborative Reading
On the weekly chart, Kevin said that Dogecoin should recover the EMA EMA 21 and SMA 20-week around the low-$0.11 area, while the upper resistance groups are around $0.136, $0.147 and $0.161 depending on the movement used. On the monthly chart, he said that the picture is not satisfactory. Dogecoin, according to Kevin, closed below the EMA 100 in a month for the first time in its history, while the monthly momentum, the flow of money and the LMACD did not show the kind of recovery that they associate with the end of the bear market.
“Think of it as a bear market for now,” he said. “The meeting is good, but for now, it is still a controversial meeting in the crypto market until it is confirmed otherwise.”
This leaves Dogecoin in a familiar position: attractive enough to accumulate, but still dependent on Bitcoin to confirm any changes. Kevin said he expects “really low” that the cycle will arrive sometime between July and October if the four-year trend continues. Until then, his message was less about chasing Dogecoin itself than looking at the economy that still sets the tone for everything around it.
At press time, DOGE traded at $0.09558.
Graphic design by DALL.E, chart from TradingView.com
