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As the crypto market closes another week, the main focus is on Dogecoin's technical duel with the $0.111 level. This threshold, represented by the 23-week moving average on TradingView, has become a temporary ceiling for the meme coin after an impressive 20% rally over the past three weeks.
However, the roadmap for a breakout has already been drawn by the world's leading cryptocurrency.
This week, Bitcoin (BTC) faced identical resistance around $78,330, its own 23-week MA. Although the previous week closed slightly below this level, the current weekend has shifted the balance of power.
A more than 3% rise in BTC allowed the price to establish itself above the average, forming a pin bar candle on the weekly chart.
DOGE's path to $0.136 depends on Bitcoin
For Dogecoin, which historically correlates with BTC as the most sensitive proxy asset, this is an important signal. If DOGE maintains its pace and follows the leader, the coming week of May could become decisive.
If Dogecoin manages to convert the $0.111 resistance into support, the technical setup opens room for a move toward a more long-term target - the 200-week moving average at $0.136. This move would represent a return to mean values, a so-called mean reversion scenario in traditional finances, and deliver about 25% growth from current levels.
The current dynamics suspiciously resemble the post-April rally of 2025. Back then, after a period of local stagnation at the end of April, May became the month of realizing deferred demand.
Right now, the Dogecoin market is in a waiting phase: BTC's impulse has already been confirmed, and now the only question is whether DOGE has enough liquidity to complete this scenario within the next 7 days.
Dan Burgin
U.Today Editorial Team
