#DOGECOIN : How High it can Go ⁉️
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Dogecoin has encountered significant resistance at $0.117, a critical level it needs to surpass to turn bullish. Initially reacting bearishly, the price has since respected a fair value gap around $0.10. Despite low momentum and a strong correlation to Bitcoin, the current market shows Bitcoin respecting resistance at $58,400, a bearish sign. In the past two hours, Dogecoin has seen short positions close and new long positions open, with short liquidations occurring as the price rises. Dogecoin is likely to attempt breaking the $0.117 resistance again, but overcoming this level remains uncertain due to strong technical resistance. For a breakout, Dogecoin requires increased momentum and a positive move from Bitcoin. A consolidation between $0.10 and $0.117 is possible. Key levels include $0.10 as psychological support and fair value gap, $0.117 as strong resistance, and $0.14 as the level needed for a technical bullish turn.
