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Crypto

DOGE Bounces Off Fib Support, Eyes Higher Ground Ahead

Guavy AI Editorial Team
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DOGE DOG
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Dogecoin's price has bounced back from its Fibonacci 0.618 support level at $0.0797, confirming that buyers remain in control of the market.

The bounce was accompanied by a clean lower wick rejection, indicating that the buying pressure is still strong.

Currently, Dogecoin's price is testing the upper Bollinger resistance band, while its RSI(14) has reached an overbought territory of 73.96 and the MACD holds its golden cross.

As a result, technical analysis models are predicting a probable retracement towards the EMA50 support level at $0.08 before the next leg higher in price.

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