DOGE Faces a Possible Decline at the $0.20 Barrier

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin’s (DOGE) price rose after recently falling below the moving average lines and faces a possible decline at the $0.20 barrier. The high of $0.205 has repelled the upward correction. The altcoin is dropping and might go back to the $0.143 support level. The price indication on the weekly chart has forecasted that the cryptocurrency asset would continue to drop.

On the downside, DOGE will indicate the start of the downtrend if it drops and breaks below the present support. The cryptocurrency asset will keep falling until it reaches the $0.048 low or level 2.0 of the Fibonacci extension.

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 on the weekly chart show a downward trend when they are below the moving average lines. On the daily chart, DOGE has been stuck between the moving average lines, though. Since they restrict price fluctuation, Doji candlesticks have emerged.

What is the next direction for Dogecoin (DOGE)?

DOGE may see a drop at the $0.20 barrier, with the $0.14 support below the $0.20 resistance. The upward corrective has failed since DOGE is being refused at the most recent high. If DOGE retraces and breaks below the $0.14 support, the altcoin will decline to the $0.048 low or the 2.0 Fibonacci extension.

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