DOGE Gains Traction but Faces Another Roadblock at $0.12

Technical indicators

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

Dogecoin (DOGE) Price Long-term Prediction: Bullish

Dogecoin’s (DOGE) price has recovered but faces another roadblock at $0.12. During the first surge, the altcoin peaked at $0.132. Buyers could not maintain the positive momentum above the $0.13 high, resulting in the fall. DOGE dropped below the moving average lines but was stopped by the 50-day SMA.

Today, the cryptocurrency price recovered above the moving average lines, reaching a high of $0.118. The altcoin is gaining traction as it approaches the initial barrier of $0.13. A break above the initial barrier will send the altcoin to a high of $0.14. The positive momentum may continue to the previous high of $0.17.

Dogecoin (DOGE) Indicator Reading 

DOGE has maintained its bullish ascent, with price bars remaining above the moving average lines. The moving average lines are trending upward, indicating a current uptrend. In addition, the crypto asset exhibits a bullish crossover, with the 21-day SMA crossing above the 50-day SMA. This represents a bullish signal.

What is the next direction for Dogecoin (DOGE)?

The 4-hour chart shows DOGE correcting upward but faces another roadblock at $0.12. Currently, the upward corrective is encountering another obstacle at $0.12. The altcoin will be forced to a sideways move if the bulls fail to breach the resistance at $0.12. The cryptocurrency signal is favorable as long as the price bars are higher than the moving average lines.

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