DOGE Declines as It Encounters the $0.205 Barrier

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin (DOGE) declines as it encounters the $0.205 barrier. The cryptocurrency price resumed its bearish ascent after breaking below the 21-day SMA support and retesting it on the daily chart. DOGE traded above the $0.15 support in the last price action but below the resistance at $0.205 or the moving average lines. 

On the downside, DOGE will drop to the next level at $0.10 if the bears break through the $0.15 support. Nonetheless, the price indicator forecasted that the altcoin would drop to level 2.0 of the Fibonacci extension or a low of $0.048. The altcoin has fallen to a low of $0.160 as of this wri

Technical indicators

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

Dogecoin (DOGE) Indicator Reading 

On the daily chart, the crypto price has slipped below the 21-day SMA after being trapped between the moving average lines. On the daily chart, the moving average lines are on a downward slope to the bottom. On the weekly chart, the moving average lines are in an upward slope suggesting an uptrend.

What is the next direction for Dogecoin (DOGE)?

The weekly chart price prediction indicates that DOGE will decrease as it encounters the $0.205 barrier. The selling pressure will resume when the price falls below the $0.15 support. The presence of Doji candlesticks has caused the price movement to decelerate. Traders who are uncertain about the market’s direction are represented by the Doji candlesticks. The price movement is constrained by the Doji candlesticks.

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