Dogecoin (DOGE) As the bulls dominate the price, DOGE wants to start a bullish breakout by eliminating the bears. Still, DOGE failed to make a daily close above a critical resistance area to confirm the upbeat outlook.
Dogecoin price It traded in a 9% range this week, marking the lows of $0.11 and the highs of $0.122. This price range was also seen together with a low volume indicating no change in the overall trend.
Short-term traders in DOGE have actually started to worry about price action after a failed chart against reliable Fibonacci levels. The famous meme coin also failed to hold up against the 0.382 level this week, which is considered the “last straw” among traders for the day.
Dogecoin price has historically been known to have erratic and unpredictable bull rallies. The first indication that the bulls are returning to the market will be a break and close above the 0.5 Fibonacci level at $0.1228 daily. If this happens, the bulls will attempt to challenge the $0.135 and $0.15 highs up to 25% of the current price.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.