The Dogecoin price is currently battling to break above the $0.4 price level again, but technical analysis suggests that might not be the only thing that the meme-inspired cryptocurrency is battling. According to technical analysis by crypto analyst Kevin (@Kev_Capital_TA), Dogecoin is currently locked in a battle with a key resistance level defined by the macro 0.5 Fibonacci extension, which could determine whether the price can break through to higher levels above $0.4 or face renewed selling pressure. Moment Of Truth At Macro 0.5 Fibonacci Extension Resistance The Fibonacci extension indicator is a popular tool among technical analysts to identify price targets and resistance levels. In the case of Dogecoin, crypto analyst Kevin made use of this Fibonacci extension projected from the cryptocurrency’s low of around $0.15 in the middle of October. For Dogecoin, the macro 0.5 Fib extension represents a significant barrier that has held back upward momentum. Related Reading: Dogecoin Gaussian Channel Turns Green On The 4-Hour Chart, Why A New ATH Above $1 Is Imminent This 0.5 Fib extension is also notable, considering that it is situated aro ..
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