Category: DOGE

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bullish
Today, the DOGE price is retracing after rallying to the high of $0.70. In the previous price action, the DOGE price was stalled below the $0.40 price level. After a downward correction, the altcoin further decline to $0.15 as bulls bought the dips. The coin has regained bullish momentum. Meanwhile, on April 16 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. This Fibonacci retracement indicates that DOGE will rise to level 2.0 Fibonacci extension or the high of $0.84.

Daily Chart Indicators Reading:
DOGE price has risen to level 73 of the Relative Strength Index period 14. It indicates that the coin has reached the overbought region. The crypto’s price is above the moving averages which indicates that the coin will rise.

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, the DOGE price is in an uptrend. The coin is fluctuating below the $0.70 resistance. Meanwhile, on May 5 uptrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.272 Fibonacci extension and reverse. That is the coin will reach the high of $0.78 and reverse to $0.61 low.

4-hour Chart Indicators Reading
DOGE is above the 80% range of the daily stochastic. The coin is in a bullish momentum and the overbought region of the market. The coin has been in the overbought region since May 1. sellers may emerge. The 21-day and 50-day SMAs are sloping upward indicating the trend.

General Outlook for Dogecoin
DOGE price is now in an upward move. Further upsides are likely if the current resistance is breached. The crypto’s price is consolidating near the resistance zone for a possible upward move. The coin is retracing from the recent high.


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Last Updated: May 6th, 2021

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Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Ranging
DOGE price has managed to reach the high of $0.34 but it is fluctuating below the $0.35 high. The crypto has the prospect of rising on the upside as it is above the moving averages. In the previous price action, the altcoin was repelled twice on April 16 and 19 at the resistance zone of $0.45. This compelled DOGE to fall on the downside. On the upside, if the bulls can clear the $0.35 resistance level, the market will rise to retest the $0.40 and $0.45 resistance levels.

Daily Chart Indicators Reading:
The crypto’s price is attempting to break the resistance line of the descending channel. If price breaks and closes above the resistance line, it will signal the resumption of the uptrend. The crypto’s price is above the moving averages which suggests a possible rise in price. DOGE is at level 64 of the Relative Strength Index period 14. It indicates that the coin is approaching the overbought region.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is rising but it is facing rejection at the $0.35 resistance zone. Meanwhile, on April 16 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.618 Fibonacci extension. That is the high of $0.66. From the price action, the altcoin is struggling below the $0.35 resistance.

4-hour Chart Indicators Reading
DOGE is above the 40% range of the daily stochastic. The coin is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the previous trend.

General Outlook for Dogecoin
DOGE price is rising on the upside after recent retracement on the downside. The altcoin is falling after testing the $0.35 resistance level. DOGE will continue the upside momentum if the bulls defend the $0.30 support level. Otherwise, the downtrend will resume.


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Last Updated: April 29th, 2021

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Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Dogecoin is in a downward move after the bulls fail to push above the $0.45 resistance zone. In the first uptrend of April 16, the crypto was resisted and the coin fell to $0.24 low. The price corrected upward and retested the $0.45 resistance zone. The crypto fell and broke the bullish trend line. As the trend line is broken, it is presumed that the previous trend is likely to be terminated. However, the selling pressure is likely to continue.

Daily Chart Indicators Reading:
DOGE price has fallen to level 63 of the Relative Strength Index period 14. It indicates that the coin is still in the uptrend zone above the centerline 50. The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The DOGE price has broken the bullish trend line and there is the tendency of further selling pressure.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is trading below the resistance at $0.42. The crypto is facing resistance and it is on a downward move. On April 20 downtrend, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extension. That is the low of $0.167.

4-hour Chart Indicators Reading
DOGE is below the 40% range of the daily stochastic. The coin is in a bearish momentum and the stochastic bands are sloping horizontally. The 21-day and 50-day SMAs are sloping upward indicating the previous trend.

General Outlook for Dogecoin
DOGE price is presently in a downward move as the buyers were repelled at the $0.45 resistance zone. The price has broken below the 21-day and the 50-day SMA which suggests a further downward movement of price.


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Last Updated: April 22nd, 2021

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Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Bullish
DOGE price has resumed upward move after buyers broke the resistance line of the horizontal channel. The altcoin has rallied to $0.144 high. The RSI has indicated that the coin has reached the overbought region of the market. Therefore further upward move is doubtful.

Daily Chart Indicators Reading:
DOGE price has risen to level 85 of the Relative Strength Index period 14. It indicates that the market has reached the overbought region. That is further upside momentum is unlikely. The 50-day and 21-day SMAs are sloping upward indicating the uptrend.

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, DOGE has resumed an upward move after price rebounded above level $0.072 support. The uptrend is facing resistance at level $0.144.Meanwhile, on April 14 uptrend, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.618 Fibonacci extension. That is the high of $0.19.

4-hour Chart Indicators Reading
DOGE is below the 80% range of the daily stochastic. However, the stochastic bands are sloping upward indicating an upward move. The coin has a bullish crossover, that is, the 21-day SMA crossing over the 50-day SMA. This indicates a bullish signal. The 21-day and 50-day SMAs are sloping upward.

General Outlook for Dogecoin
DOGE price has rebounded from its sideways move. There is a possibility of more upside momentum if price breaks the resistance at $0.14. Presently, buyers are attempting to break the resistance at $0.14. According to the Fibonacci tool analysis, the market will rise to a level $0.19.


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Last Updated: April 15th, 2021

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Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE price is in a sideways trend. The crypto has been fluctuating between $0.040 and $0.060. DOGE price is characterized by small body candlesticks namely Doji and Spinning tops. These candlesticks indicate that buyers and sellers are undecided about the direction of the market. The crypto is consolidating in a range. The market is in a choppy price action. Dogecoin has not trended since February.

Daily Chart Indicators Reading:
DOGE price is at level 49 of the Relative Strength period 14. It indicates that there is a balance between supply and demand. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the crypto is in a downward move. The crypto’s price corrected upward but it is facing resistance at a level of $0.055. The downward move is likely to continue. Meanwhile, on March 23 downtrend, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extension. That is the low of $0.048.

4-hour Chart Indicators Reading
DOGE is above the 40% range of the daily stochastic. It indicates that the coin is in bullish momentum. The 21-day and 50-day SMAs are sloping downward.

General Outlook for Dogecoin
DOGE is in a downward move. The crypto’s price is facing rejection at $0.055. The coin upward move is doubtful above $0.055. The altcoin may decline after repeated rejection at the recent high. According to the Fibonacci tool, DOGE will decline to level 1.618 Fibonacci extension or at the low of $0.048.


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Author : Azeez Mustapha

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Author: Azeez Mustapha

Last Updated: April 1st, 2021

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

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