Dogecoin DOGE could soar to $0.11 after bitcoin's bull rally

DOGEUSDT

On April 12th, Dogecoin bounced off the moving averages, which can be seen from the long tail on the day's candlestick. The bulls attempted to drive the DOGE/USDT pair above the 38.2% Fibonacci retracement level of $0.09, but the bears did not give in, suggesting negative sentiment and traders selling on rallies.

If buyers push and sustain the price above $0.09, it may indicate a reduction in selling pressure, and the pair may ascend to the 61.8% retracement level of $0.10. A break and close above this level typically results in a 100% retracement, and if that happens, the pair may soar to $0.11.

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