DOGE Continues Its Range-Bound Pattern below $0.26

Dogecoin (DOGE) Price Long-term Prediction: Bullish

Dogecoin’s (DOGE) price maintains its range-bound pattern below $0.26 for the second time. The bullish impulse has been rejected twice at a recent high as the altcoin maintains its range-bound pattern. The last two weeks have seen DOGE trade above the 21-day SMA support or the $0.214 low but below the $0.26 barrier. DOGE ought to potentially reach a high of $0.35 if investors manage to push the price beyond the $0.26 mark.

The cryptocurrency asset is currently declining after reaching a recent peak. If the altcoin retraces and stays above the 21-day SMA support, the range-bound trend will continue. However, if the 21-day SMA support is broken, DOGE may fall above the 50-day SMA. The altcoin’s value is $0.235.

Technical indicators

Major Resistance Levels $0.45 and $0.50
Major Support Levels – $0.30 and $0.25

Dogecoin (DOGE) Indicator Reading

DOGE price bounces above the 21-day SMA support as it continues its range-bound move below the $0.26 barrier. The price bars on the 4-hour chart move both above and below the lines of the moving average. Furthermore, the sideways tendency is indicated by the horizontal moving average lines.

What is the next direction for Dogecoin (DOGE)?

DOGE’s price moves sideways as it maintains its range-bound pattern below $0.26. The altcoin has been bouncing between the resistance at $0.26 and the $0.21 support on the 4-hour chart. The crypto’s price is now stuck between the moving average lines. The drop has stopped above the $0.23 support as it continues its range-bound movement.

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