Dogecoin Is At A Crossroads: Will It Continue To Drop 25% Or Will It Surge 55%?

Having just broken through a significant resistance zone, the Dogecoin (DOGE) price is currently at a crucial crossroads.

DOGE was last trading just below $0.10, down about 9% from its Friday high of $0.1080.

Sellers stepped in as the price encountered resistance in the form of a downtrend from the March high and the 50-day moving average. This resulted in a reversal in the Dogecoin price.

If Dogecoin can break through this resistance zone to the north, the cryptocurrency could see a rapid 55% rally to $0.15.

At A Crossroads, Dogecoin Price

However, it appears that the Dogecoin price has already shown that it has rejected this resistance level.

All of this suggests that bears continue to hold sway over the market.

The next move is likely to be a 30 percent drop from the August low, perhaps below $8.