Dogecoin’s (DOGE) recent surge of 28% has hit a roadblock as the price experienced a bearish close on March 29. Despite this setback, the overall trend of DOGE suggests potential growth in both the short and long term. At the beginning of the month, Dogecoin started on a bullish note with a price of $0.1164. After a correction period, the price reversed and reached a monthly high of $0.22847 on March 27. These fluctuations demonstrate the dynamic nature of Dogecoin’s price and suggest that it may recover from the current drawdown.
To assess potential resistance levels, data from IntoTheBlock (ITB) highlights that around 6.47 billion DOGE serves as a crucial barrier to monitor, with a significant number of addresses holding a stake in this range. Currently, there are 573,840 addresses associated with this barrier. If Dogecoin manages to surpass this resistance, it could potentially retest its all-time high (ATH) price of $0.7376. However, the outcome of the ongoing bull-bear battle in the broader cryptocurrency market will also influence Dogecoin’s price movement.