DOGE Fails to Advance after Crossing the $0.40 Barrier

Dogecoin (DOGE) Price Long-term Prediction: Ranging

The price of Dogecoin (DOGE) returns to its sideways trend after crossing the $0.40 barrier. The range-bound limits have not been breached since November 12, 2024. The bulls resumed their bullish trend on January 15 after breaking above the moving average lines. On the plus side, DOGE will continue to advance to the high of $0.48 if the bulls break through the barrier at $0.40.

However, the cryptocurrency asset will drop within its current price range above the $0.30 support if the altcoin is rejected at the recent high. DOGE is currently worth $0.41, and buyers are attempting to keep the price above that.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading 

On January 15, the price bars returned above the moving average lines as DOGE resumed its upward trend. The sideways move is indicated by the moving average lines as being horizontal since November 12, 2024. The Doji candlesticks are beginning to form as the altcoin keeps its range-bound pattern. Long candlestick wicks create resistance zones. Strong selling pressure at the most recent high is shown by the wicks.

What is the next direction for Dogecoin (DOGE)?

The DOGE resumes its sideways trend on the 4-hour chart after crossing the $0.40 barrier. The crypto price has risen to a high of $0.434 after breaking above the resistance at $0.40. The price of DOGE has retreated to test the $0.40 support formerly a level of resistance. If the altcoin recovers and stays above the $0.40 support, the upward trend will continue.

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