Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin’s (DOGE) price is steadily decreasing as it lingers above $0.15. Since November 4, the drop has stalled above the $0.15 level. On the upside, buyers have been unable to break through the 21-day SMA level since October 10. However, if buyers break above the 21-day SMA level and the bullish momentum continues, DOGE will restart its upward trend.
On the downside, selling pressure will begin when the $0.15 support level is broken. DOGE will fall to its next support at $0.10. The bearish momentum will continue till the October 10 price level of $0.08. DOGE is now worth $0.16.
Technical indicators
Major Resistance Levels $0.45 and $0.50
Major Support Levels – $0.30 and $0.25
Dogecoin (DOGE) Indicator Reading
The crypto price bars are forming a sequence of lower highs and lower lows below the 21-day and 50-day SMAs. DOGE will continue to fall each time it is rejected by the moving average lines. The pause on November 4 has caused the moving average lines on the 4-hour chart to be horizontal.
What Is the Next Direction For Dogecoin (DOGE)?
DOGE is trading sideways as it lingers at $0.15. The cryptocurrency is trading above the $0.15 support level but below the $0.19 high. The price bars are lower than the moving average lines as the cryptocurrency corrects higher.
Currently, the upward corrective is meeting resistance at the 21-day SMA level. DOGE will resume its drop as it falls from its previous peak.
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