The technical analysis for Dogecoin is here today

$DOGE rebounded from the 50% Fibonacci retracement level yesterday, which exactly met expectations. In just two days, it surged nearly 12%, now aiming for the July high.

However, the journey won't be all smooth sailing — $DOGE has entered a key resistance zone (marked by the blue box in the chart), which is the same place where it plummeted 45% in May.

Even if it breaks through smoothly, the next challenge is the upper boundary of the daily descending triangle. The good news is that the short-term momentum indicators EMA and RSI are both rising, showing clear bullish signals in the short term.