Dogecoin (CRYPTO: DOGE) is back above the 20 cents market, sparking renewed optimism among traders.
What Happened: In an update in his exclusive Patreon group, prominent analyst Kevin pointed out that DOGE rebounded from $0.189, a confluence of the 0.5 Fibonacci level and the weekly bull market support band.
He says that to confirm a short-term recovery, DOGE needs to reclaim the $0.22 level, which would place it above both the 4-hour and daily 200 SMA/EMA. Momentum indicators are turning bullish, suggesting a potential higher low forming on the higher time frames.
However, Kevin also cautions that Dogecoin’s fate is tied to Bitcoin (CRYPTO: BTC) holding current levels and breaking …