DOGE Fluctuates as It Faces the $0.20 Barrier

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin (DOGE) price has been trading above the $0.16 support but below the moving average lines as it faces the $0.20 barrier. Yesterday, the crypto asset declined after hitting the moving average lines. Buyers failed to sustain the bullish momentum above the moving average lines. The altcoin is expected to return to the previous high of $0.26. Today, DOGE is falling as it approaches the low of $0.16.

The altcoin will continue its range-bound move between the $0.16 support and the resistance at $0.26 if the current support holds. However, the bearish momentum will continue to the low of $0.14 if the current support is breached. Presently, DOGE is worth $0.18.

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Technical indicators

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

Dogecoin (DOGE) Indicator Reading

On both charts, the price bars are below the moving average lines. This indicates the further decline of the cryptocurrency. The moving average lines are still horizontal due to the sideway trend since May 10. However, the Doji candlesticks have continued to dominate price action.

What Is the Next Direction for Dogecoin (DOGE)?

DOGE’s price trades in the bearish trend zone as it faces the $0.20 barrier. The upward move has been hindered by the moving average lines. For the next few days, DOGE will be trading below the moving average but above the current support. On the 4-hour chart, DOGE is fluctuating between the $0.17 support and below the resistance at $0.20. The crypto signal is range-bound as the altcoin faces rejection at the recent high.

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