Analyst Talks About Rallying Dogecoin: “This Level Needs to be Crossed for the Rally to Continue!”

Cryptocurrency analyst Kaleo, Dogecoin (DOGE) explained its strategy.

Cryptocurrency Analyst Kaleo Shares His New Views on Uptrend Dogecoin (DOGE)

In a tweet, DOGE said that he had sold some of his holdings at the major timeframe (HTF) resistance and moved to Bitcoin (BTC), but kept some of the DOGE savings in case the coin broke above resistance.

He also shared DOGE’s low time frame (LTF) chart, noting that the coin lost its upside momentum and dropped below a key support level at 0.103. He said this level needs to be reversed for DOGE to continue its rally without major correction first.

He predicted that DOGE could pull back to the high around $0.08 before rebounding.

Also not a huge fan of this on LTF either

– stopped at HTF resistance
– breakdown of LTF trend
– really needs to reclaim .103 if you want this rally to continue without any significant retrace first (eg to the high .08s) pic.twitter.com/htDNXGMijO

— KALEO (@CryptoKaleo) April 3, 2023

Dogecoin was created as a joke by software engineers Billy Markus and Jackson Palmer in December 2013, and was created at the time to make fun of crazy speculation in cryptocurrencies.

DOGE price is trading at $0.9595, slightly lower than its daily high of $0.1026 at the time of this writing.

Dogecoin price had a sudden rise after Elon Musk replaced the bird in the Twitter logo with the DOGE mascot dog. However, it is not known whether Musk’s DOGE logo decision is permanent. DOGE users will follow the historically important April 20 date for the coin.

*Not investment advice.