DOGE May Continue Its Slide to $0.13

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin (DOGE) price continues its slide to $0.13 after breaching the $0.18 support. Since October 11, DOGE has been in a range-bound movement above the $0.18 support but below the moving average lines. Buyers failed to hold the price above the 21-day SMA, which might have pushed it to a high of $0.25. DOGE has turned down from the 21-day SMA and broken the $0.18 support level.

The cryptocurrency has plummeted and is now trading above the $0.16 support level. On the downside, if the bears break the $0.16 support, DOGE will fall to the expected price level of the 2.0 Fibonacci extension, or $0.1318. However, DOGE is now worth $0.1647 at the time of writing.

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Technical indicators

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

Dogecoin (DOGE) Indicator Reading

The price bars are close to and below the downward-sloping moving average lines. DOGE is sliding as it confronts rejection at the 21-day SMA level. On the 4-hour chart, the price bars are positioned between the moving average lines. It suggests that the cryptocurrency may fluctuate within a specific range for a few days. If the bears breach the 21-day SMA support on the 4-hour chart, selling pressure will start.

What Is the Next Direction For Dogecoin (DOGE)?

The price of DOGE continues its slide to $0.13 after its rejection at the $0.17 barrier. The crypto price has risen; however, it is encountering rejection at its recent peak. Meanwhile, the cryptocurrency signal is negative in terms of price projection.

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