Dogecoin: This price level could make or break your portfolio

ambcrypto.com:

In the last month, Dogecoin [DOGE] bulls seemingly impeded the selling spree after the alt dipped from the $0.12-level. As a result, it saw a revival above the 20 EMA (red). However, DOGE struggled to find a volatile break away from the Point of Control (POC, red).

With the bearish hammer candlestick rejecting higher prices at the $0.07-zone, any red candlesticks from here on could provoke a rather sluggish phase on the charts. At press time, DOGE was trading at $0.0712, up by 3.62% in the last 24 hours.

Source: TradingView, DOGE/USD

After flipping from the $0.159-resistance, DOGE lost over 70% of its value and poked its 15-month low on 18 June. Meanwhile, the meme-coin maintained its position below the 50 EMA (cyan) and reflected a long-term bearish edge.

Also, the altcoin dipped below the nine-month trendline resistance (white, dashed) and reaffirmed the selling strength from a long-term outlook. With the 61.8% Fibaqoncci level standing sturdy, the bulls still needed to ramp up the buying pressure to alter the broader trend.

Over the last month, DOGE formed a symmetrical triangle-like structure in the daily timeframe. Given the previous downtrend, the coin could see a setback in coming sessions if the bulls fail to step in. Any break below the 20 EMA could trigger a sell-off toward the $0.05 zone.

However, a bullish intervention at the $0.07-mark could help the buyers push for more. Any recovery above the 50-55 EMA would aid the bullish endeavors. The 61.8% level would continue posing hurdles in this case.

Source: TradingView, DOGE/USD

The RSI finally snapped the 50-52 range to claim a bullish edge. Bulls still needed to maintain the buying streak to consistent gains beyond the trendline resistance on the chart.

The OBV