DOGE Faces Rejection As It Aims For The $0.125 Low

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin (DOGE) price has steadily fallen as it aims for the $0.125 low. The cryptocurrency asset was in an uptrend after breaking above the moving average lines. The bullish momentum has slowed as it approaches resistance at $0.14.

Further upward movement of the altcoin is unlikely since DOGE fell above the moving average lines. On the downside, if the altcoin remains above the moving average lines, the rise will resume. However, DOGE will fall if the bears breach below the moving average lines.

The crypto asset will drop to a low of $0.097. Meanwhile, DOGE has plummeted to a low of $0.128 as of this writing.

Technical indicators

Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Indicator Reading 

DOGE’s price is declining while remaining above the moving average lines. On the 4-hour chart, the price bars are below the moving average lines, indicating a bearish trend. The moving average lines show a negative indication when the 21-day SMA crosses below the 50-day SMA. However, the Doji candlesticks have slowed the price movement.

What is the next direction for Dogecoin (DOGE)?

DOGE has fallen below the moving average lines as it aims for the $0.125 low. The 4-hour chart shows DOGE trading above the $0.121 support but below the $0.136 resistance. The price indicator has predicted a further decrease in the cryptocurrency. The cryptocurrency crypto is gloomy as it gets further rejection.

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