Dogecoin ( $DOGE ) has traded in a wide range from $0.34 to $0.44 over the past few days, indicating an accumulation phase.

$DOGE Daily chart

The 20-day EMA is sloping up ($0.32) and the RSI is in the overbought zone, indicating that buyers have the upper hand. If buyers can push the price above $0.44, the DOGE/USDT pair could soar to $0.50, with the next potential target being $0.59.

Conversely, if sellers break the support at the 20-day EMA, selling pressure may increase. In that case, $$DOGE could retrace to the 50% Fibonacci level at $0.29, with a deeper correction to the 61.8% level at $0.25.

Will Dogecoin break out of its range and reclaim higher levels, or can sellers take control? Share your trading strategies and outlook in the comments below!