The bulls tried to push the price of Dogecoin above $0.48 on December 8, but the bears held their defensive position.
Daily DOGE/USDT chart | Source: TradingView
The 20-day EMA is sloping upwards ($0.41) and the RSI is in the positive zone, indicating that the main trend is still bullish. If buyers push the price above $0.48, the likelihood of breaking the resistance line of the upward channel will increase, and the DOGE/USDT pair could surge to $0.60.
This optimistic outlook will be invalidated if the price turns down and breaks the upward channel, which could accelerate selling pressure and pull the price down to $0.33.
