The Dogecoin (DOGE) chart suggests a potential bullish move if current support levels hold, according to crypto market analyst Kevin. After trading in a falling channel for over a month, DOGE appears to be rebounding off the former resistance line of this channel, which is seen as a positive sign by traders. Kevin emphasizes that it is crucial for DOGE to hold this support and bounce, or else the chart may need to be reassessed. Currently, DOGE is defending its newfound support and has shown signs of a potential higher price. However, altcoins, including DOGE, are still heavily influenced by Bitcoin's direction and market dominance. Kevin believes that altcoins will not outperform Bitcoin unless BTC dominance falls below a certain threshold. In addition, the recent launch of a memecoin by incoming US President Donald Trump has caused turbulence in the crypto market, affecting the performance of many coins. Despite this, Kevin believes that the situation will stabilize in a few weeks. For DOGE, the immediate signal to watch is whether it can continue to hold above its retested channel line. A decisive bounce above a certain price region could strengthen the bullish case, but any increase in Bitcoin dominance or meme coin speculation may introduce challenges. At the time of writing, DOGE is trading at $0.38.



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