Dogecoin is displaying surprising resilience whereas the broader crypto market trades in a weak sample, in keeping with dealer Daan Crypto Trades (@DaanCrypto). In a chart posted on X on November 13, he highlighted a possible “vary retake” that might arrange a transfer towards the earlier vary excessive at roughly $0.218—if DOGE can break and maintain above $0.18.
Dogecoin Bulls Have A Goal
“DOGE has been comparatively sturdy the previous few days. Total market is clearly weak and uneven,” he wrote. On the time of his chart, Dogecoin traded round $0.172 on Binance, sitting slightly below a key inexperienced assist band marking the vary low between $0.17 and $0.18 . The vary excessive—drawn at $0.21817 —stays the upside goal if value can reclaim the decrease boundary. The space between the band and the top quality is 23.1%, a transfer Daan considers technically clear if momentum aligns.
The dealer additionally pointed to a story circulating in US markets: proposed 2,000-dollar stimulus or dividend checks by the Trump administration. He famous the psychological connection many retail merchants nonetheless need to the “stimmy check” era of 2020–2021, when Dogecoin was one of many cycle’s strongest performers.
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“I believe the two,000 greenback stimulus/dividend checks to US employees might need re-ignited some muscle reminiscence,” he stated, including that youthful merchants typically search for speculative belongings moderately than Bitcoin or Ethereum when deploying surprising money.
Technically, the setup he’s monitoring is easy: DOGE beforehand broke under its established vary, flushed to decrease lows, and is now making an attempt to push again into the band. His chart exhibits two rounded swing lows, suggesting a possible base forming. A reclaim of the inexperienced zone—validated by closing energy above $0.18 —would sign that sellers have misplaced management and that the higher boundary at $0.218 may come again into focus.
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“No matter all that, I’m watching carefully right here for this vary retake,” he wrote. “I believe it may make for a clear setup for a transfer again to the vary highs. Want BTC & ETH to carry the ground for that to play out clearly.” That last clause underscores the conditional nature of his view. Dogecoin typically behaves as a high-beta expression of market danger, and Daan is express {that a} broader market breakdown would invalidate the state of affairs, even when DOGE briefly trades above $0.18.
Questions on his seemingly long-oriented emphasis prompted clarification. One person requested why he focuses primarily on upside setups, prompting Daan to reply: “I do each side personally for brief time period scalps. However the second you put up quick setups folks get fairly indignant.” He added that lengthy setups have a tendency to supply higher risk-to-reward for many merchants and that shorting after latest “big liquidation flushes” like the October 10 event is mostly much less interesting.
His posted chart displays that choice: a possible bullish reclaim moderately than an try to fade resistance. For now, the important thing stays unchanged—affirmation solely comes with a sustained break above $0.18. With out that stage, Dogecoin stays inside its decrease consolidation, with Bitcoin and Ethereum setting the broader context for whether or not the memecoin can lengthen its relative energy.
At press time, DOGE traded at $0.15943.
Featured picture created with DALL.E, chart from TradingView.com