Dogecoin price breaks out of a bull flag pattern after surging 20%. DOGE could surge 75% to $0.095 if it bounces from the 50% Fibonacci retracement level at $0.055. A bearish outcome could evolve if the price re-enters the “flag” and starts consolidation. Dogecoin price has been lull ever since the local top on February 7. However, a 20% surge due to Elon Musk’s recent endorsement has led to a breakout from a bull flag pattern. Now, the meme coin could surge 75% to record levels soon. Dogecoin price poised for a leg up Dogecoin price attempted to breach its all-time high as it surged 300% between January 30 and February 7. This bull rally formed the “flag pole,” a basis for the bull flag pattern. The consolidation that followed the explosive rally resulted in a “flag.” This technical formation projects a 75% surge, determined by adding the flag pole’s length to the breakout point at $0.055 or the 50% Fibonacci retracement level. This target puts DOGE at $0.095. Dogecoin price breached this resistance barrier on February 24, 12:00 UTC. Since then, DOGE is hugging closely to this line, building up bullish momentum for the next rally. DOGE/USDT 4-hour chart Adding credence to DOGE’s bullish thesis is the SuperTrend and the Parabolic SAR indicator, both of which have flashed a buy signal on February 24. DOGE/USDT 4-hour chart While everything seems to be bullish, Dogecoin price needs to hold the support at $0.055. A failure to do so will result in a 15% pullback to $0.047 or the 38.2% Fibonacci retracement level. A further spike in selling pressure could extend the downswing by 20% to $0.037. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD: Bulls have reasons to demand 1.4200 but not much beyond that FX Street 1 year Dogecoin price breaks out of a bull flag pattern after surging 20%. DOGE could surge 75% to $0.095 if it bounces from the 50% Fibonacci retracement level at $0.055. A bearish outcome could evolve if the price re-enters the “flag” and starts consolidation. Dogecoin price has been lull ever since the local top on February 7. However, a 20% surge due to Elon Musk’s recent endorsement has led to a breakout from a bull flag pattern. Now, the meme coin could surge 75% to record levels soon. Dogecoin price poised for a leg up Dogecoin price attempted to breach its… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.