Dogecoin experienced a bounce back to around $0.19, up roughly six percent over 24 hours, following Bitcoin's recovery from $106,800 to just above $109,000.
Key technical analyst points out that Dogecoin needs to break the resistance at the $0.19-$0.21 range to head towards the $0.26-$0.28 level, with bullish indicators on the daily timeframe.
Bitcoin's price movement is crucial, with Dogecoin likely to decouple from its dependency on Bitcoin when dominance peaks and the market anticipates easing monetary policy.
Traders are closely monitoring Bitcoin's $106,800 level and Dogecoin's $0.21 barrier, as a successful breakthrough of the latter would pave the way for Dogecoin to reach $0.26-$0.28.