Dogecoin (DOGE) Price Long-term Prediction: Bearish
The price of Dogecoin (DOGE) has fallen below the moving average lines as it surges above the $0.15 support. In the last rally, DOGE reached a high of $0.228 before being repelled. Before the cryptocurrency’s downward slide, bulls were denied twice at the $0.20 resistance.
On April 13, DOGE fell to a low of $0.128, but bulls purchased the dips. As a result, the 50-day SMA resistance has blocked the upward correction. For the past 48 hours, DOGE has traded above the $0.128 support and below the moving average lines, which represent resistance at $0.18.
DOGE will fall to a $0.10 low if it loses its present support at $0.128. On the upside, DOGE will resume its bullish trend if it breaks the resistance at $0.20.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
DOGE is now in decline, with price bars below the moving average lines. The altcoin is likely to fall more while in the bearish trend zone. Despite the decrease in cryptocurrency, the moving average lines have remained northward. On the 4-hour chart, the moving average lines slope horizontally, indicating a lateral trend.
What is the next direction for Dogecoin (DOGE)?
On the 4-hour chart, DOGE falls significantly to a $0.13 low as it surges above the $0.15 support. The cryptocurrency price has surged above the $0.15 support level and resumed consolidation above it. DOGE is now trading between $0.15 and $0.17, pending the trend’s resolution.
Meanwhile, the crypto signal remains range-bound, with the price holding above the $0.15 support.
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