Last Opportunity To Buy Dogecoin ‘Relatively Cheap’: Analyst

Crypto analyst Kevin (@kev_Capital_TA) suggests that the current market structure of Dogecoin “the last chance” indicates for investors to acquire the meme coin at relatively low prices. Kevin points to various convergent technical indicators, including a back test of the macro 0.5 Fibonacci -Retracement near $ 0.158, a retest of falling trend lines for several years, a convergence with both 200 -week simple progressive average (SMA) and an EMADIY -DEDIAL -DEDIAL -DEDIAL -DEDIAL -DEDIAL -DEMADEZEZ.

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The weekly graph Doge/USD reveal Various Fibonacci retracement lines that can serve as support or potential downward goals. About $ 0.158 test Dogecoin the 0.5 FIB level, while deeper areas 0.618 include near $ 0.1157, 0.65 near $ 0.1092, 0.70 about $ 0.097, 0.786 near $ 0.080, and a lake $ 2. Historically, these FIB zones were areas where the price action can stabilize when a falling trend continues. Kevin also emphasizes resistance in the vicinity of $ 0.28 (the 0.236 FIB) and an upper limit of around $ 0.47 – $ 0.48 that marks a large swing high of earlier rallies.

From a trend perspective, the price in the region of $ 0.16 – $ 0.17 floats, where it re -testing the broken falling trend line from Dogecoin’s 2021 peaks. Kevin’s analysis suggests that if Dogecoin can keep this line as support, this would strengthen the bullish scenario.

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In combination, the 200 -Weeks SMA and EMA – often considered as Markers of Health in the long term – are in the agreement of approximately $ 0.13 – $ 0.17. The overlap between these critical advanced averages and the FIB levels underlines what Kevin sees as a strong risk -for the purpose of long -term positioning.
He also points out that the three -day RSI has reached the territory that it regards ‘historically low’, points to a possible over -sold state.

In addition to technical considerations, Kevin expresses a wider macro -economic point of view: “If BTC adjusts economic data and macro -economic data and monetary policy, you have just got your last opportunity to buy Dogecoin relatively cheaply. Many factors in the game and a lot of work to do, but the risk reward at this level is excellent considering the circumstances. “

He suggests that despite strong employment rates and the moderation of inflation (supported by trual data and falling energy costs), the market “wealth trillions of wealth every day on pure speculation of some imaginary rates that they knew they would come.”

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He adds: “The number of employment is phenomenal, the growth is still strong, inflation comes down quickly per trual data and falling energy costs are the reason, the Fed is about to reduce again, wars are ready to end soon.”

He argues that the Federal Reserve can soon run to more accommodative policy and that constant geopolitical tensions can decrease. In his words, the current sale “is zero sentence” and seems to be a “controlled attack on the markets by the powers that are” to influence public sentiment.

“I think it is pretty clear that there is a controlled attack on the markets due to the powers that are to try to derail this administration and to turn the retailing against them because this entire sale is not logical. Many people will look really stupid when it all settles and the truth is revealed, “concludes Kevin.

At the time of the press, Doge traded at $ 0.16.

Featured image made with dall.e, graph of tradingview.com