Dogecoin Price Analysis: On Saturday, the cryptocurrency market traded relatively stable despite the successful execution of the fourth bitcoin halving. This consolidation trend for a majority of major coins including Dogecoin continues, reflecting no clear dominance from buyers to sellers. However, the DOGE price holding its ground above the 50% retracement level indicates the broader trend on this asset remains bullish.
Also Read: 6 Expert Picked Crypto To Buy On The Cusp Of 2024 Bitcoin Halving
How 50% Fibonacci Level is Shaping Dogecoin’s Market Strategy
The Dogecoin price has been under an active correction trend for the past three weeks highlighted by a downsloping trendline in the daily chart. The bearish downturn initiated from the $0.228 high tumbled the ADA’s value to a low of $0.13 registering a 43% fall.
However, with the Bitcoin price showcasing sustainability above the $60000 psychological level, the Dogecoin price rebounded above 50% Fibonacci retracement level at $
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