The price of Dogecoin is a must-watch since the technical indicators suggest that there is a significant amount of activity and warrants the notion of a volatile market over the next few weeks.

Dogecoin price is one to watch

Dogecoin price's first anomalous sign is the latest breach of a trend line that has been in place for a long time that has been widely anticipated for months at FXStreet. It appears that the stars are aligned in favor of an uptrend that is bullish, however it's best to stay safe instead of jumping in too quickly. A devastating crash to $0.02 may occur if bulls do not provide enough support.

Dogecoin price is a fascinating technical indicator in the cryptocurrency market as it is dripping into the void. An Fibonacci projection tool that dates back to the first downtrend to the X wave rally which ended on April 18 at $0.18 is an 61.8 percent Fib level of $0.05. A Fibonacci Retracement tool that is centered around the all-time lows as well as all-time highs have an 38.2 level percent at $0.05 also. A Fibonacci cluster occurs the case when two Fibonacci methods are located in the same location and indicate a significant degree of attention.

Invalidation of the bearish trend is a break of $0.085. The entire bearish trend could be considered to be over if bulls achieve said price movement. A move towards record highs of $0.70 will yield a 1125% gain from the current price of Dogecoin.

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