332 Interactions, 2 today
Dogecoin avoided the cryptocurrency bloodbath that happened on Sunday, April 18, by registering a 22 percent increase after Saturday’s retracement.
The news of a large Dogecoin acquisition by an undisclosed person for $892 million is one of the reasons why Dogecoin actually “dodged” the bullet. This details, obtained from BitInfoCharts by a Twitter user, has yet to be authenticated. However, stocks seem to change based on speculation, and the crypto industry has shown a high vulnerability to rumours.
It’s worth noting that today’s crypto selloff was sparked by an unconfirmed tweet that gathered attention and went viral, panicking crypto investors into selling their shares.
Technical Outlook for Dogecoin
The DOGE/BTC 4-hour chart is seen with different Fibonacci retracement ranges after being tracked from the swing low on April 11 to the swing high on April 16. Following a retracement to the 50% Fibonacci level from its ATH, Dogecoin regained upside traction and resumed its push to the 23.6 percent Fibonacci level, which is the intraday peak at 562 satoshis. A split of this stage will target the current ATH of 740 satoshis, followed by a drive towards the psychological price level of 800 satoshis.
A pullback from the 593 satoshis level, on the other hand, targets the 500 satoshis psychological support, with the 422 satoshis price level at the 50% Fibonacci price level acting as an additional support field.
Dogecoin Daily Chart
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