As the cryptocurrency market closes for another week, the main focus is on Dogecoin’s technical showdown with the $0.111 level. This threshold, represented by TradingView’s 23-week moving average, served as a temporary ceiling for the meme coin after an impressive 20% rally over the past three weeks.
However, the roadmap to breakout has already been drawn by the world’s leading cryptocurrencies.
This week Bitcoin ($BTC) faced similar resistance near its own 23-week moving average at $78,330. Last week ended just below this level, but this weekend the balance of power has shifted.
Increase of 3% or more $BTC The price was able to rise above the average and form a pin bar candlestick on the weekly chart.
$DogeThe path to $0.136 depends on Bitcoin
In the case of Dogecoin, historically there are the following correlations: $BTC This is an important signal because it is your most sensitive proxy asset. if $Doge If it maintains its pace and follows the leaders, the next week in May could be the decisive one.
If Dogecoin can turn resistance at $0.111 into support, the technical setup would give it room to move towards its longer-term target of the 200-week moving average at $0.136. This move represents a reversion to the mean, the so-called mean-reversion scenario in traditional finance, and would result in growth of about 25% from current levels.
The current movement looks suspiciously similar to the post-April 2025 bull market. At that time, after a period of local stagnation at the end of April, May became the month in which deferred demand materialized.
Currently, the Dogecoin market is in a waiting phase. $BTCThe impulse of has already been confirmed and the only problem is that $Doge There is sufficient liquidity to complete this scenario within the next 7 days.
