Who Let The Doge Out And Where Is The Cryptocurrency Headed Next?

The upper Fibonacci levels, the 1.27, 1.67, and 2, above the current price show possible areas of resistance if Dogecoin goes on another run higher. The Fibonacci levels below the current price show possible levels of support if Dogecoin drops lower.

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Bulls want to see Dogecoin make another big move to get over the 1.27 level. If it can reach this level, the chances of it reaching the next two levels go up. Reaching level 2 would likely be an area with a lot of profit-takings.

Bears want to see a close under the golden pocket to see a retest of the 0.382 level. If that level of support, which also aligns with some hourly price action support, Dogecoin could retrace to the 0.236 area. A loss of that support could mean the end of this bull cycle for the meme currency.

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