DOGE Halts above $0.13 as It Continues Its Range-Bound Slide

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

The price of Dogecoin (DOGE) has risen again as it continues its range-bound slide. Since the August 5 price drop, the cryptocurrency has been on the rise as it recovers from its downtrend. The bulls broke above the moving average lines, reaching a high of $0.149. Buyers were unable to sustain the positive momentum above the $0.15 resistance.

Today, DOGE trades above the moving average lines but below the resistance level at $0.15. On the upside, if buyers surpass the current barrier, the market will move to the next resistance level at $0.18. The range-bound slide below the $0.15 barrier will continue if buyers are unable to break through it. However, DOGE will fall if the bears break below the moving average lines. The altcoin will drop to its prior low of $0.11.

Dogecoin (DOGE) Indicator Reading 

Following the retracement above the moving average lines, the price bars have risen above them. DOGE has the potential for further upward movement as it remains above the moving average lines. On the 4-hour chart, the price bars are below the moving average lines, indicating the current fall.

What is the next direction for Dogecoin (DOGE)?

DOGE trades sideways on the 4-hour chart as it continues its range-bound slide. Since October 19, the altcoin’s price has fluctuated above $0.13 and below $15. The price bars are below the moving average lines, but the slide has paused above the $0.13 support level. The crypto signal is good, as bulls halted the decline above the $0.13 support.

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