Recently, Dogecoin’s [$DOGE] price was at the risk of facing a setback after weeks of upward momentum. However, the $0.088 support level was defended throughout April, and $DOGE managed to rally past $0.10 from this support.
AMBCrypto had warned that $0.117 was the 78.6% Fibonacci retracement level, and could see a sustained bearish move. However, over the past 24 hours, the leading memecoin gained by 4.5% after briefly descending from $0.117 to $0.105.
Will the higher timeframe downtrend take control in the coming days? Or is this a sign that the bulls have overcome the rejection and may be ready to make new highs?
The hopeful spark for Dogecoin
The swing structure on the weekly chart of Dogecoin was bullish. The swing low and high at $0.08 and…
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Source cryptonews.net
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