$BTC level on the weekly RSI. The analyst declared that a similar outcome to the previous touches could occur again if BTC can continue to rise. 

Related Reading: Analyst Who Puts Dogecoin Price At $10 Reveals The Trend That Will Drive The Surge

Indeed, the Dogecoin price had begun to rebound following the Bitcoin price’s latest climb to as high as $110,000. However, Bitcoin is again on the downtrend, which puts the foremost meme coin at risk of dropping to new lows. Kevin Capital remarked that a failure of this weekly RSI level at 40 would be the line in the sand between longer-term bearish price action or a continued bull run. Failure to hold between $0.144 and $0.127 could also determine what’s next. 



At the time of writing, the Dogecoin price is trading at around $0.17, down over 2% in the last 24 hours, according to data from CoinMarketCap.