Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin (DOGE) has recovered from a low of $0.09 to break above the 21-day moving average line and begins a sideways trend. However, the bullish momentum has been halted at the high of $0.127, where buyers have failed to keep the price above since June 20.
DOGE trades above the 21-day SMA but below the 50-day SMA resistance level. On the upside, the crypto asset will return to its previous high of $0.18 if buyers keep the price above the resistance levels of $0.127 and the 50-day SMA.
Nonetheless, DOGE will be caught between the moving average lines if buyers fail to maintain their bullish momentum above the resistance levels. The altcoin is currently valued at $0.125.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
Since the latest breakout, the DOGE price has surged between the moving average lines. On the 4-hour chart, the price bars are above the moving average lines, while on the daily chart, they are between the moving average lines. The upward movement has been hindered by resistance at $0.127 and the 50-day SMA.
What is the next direction for Dogecoin (DOGE)?
DOGE has recovered bullish momentum and began a sideways trend. The altcoin will rise if the present resistance level is broken. On the July 6 upswing, a retraced candle body tested the 38.2% Fibonacci retracement line.
The retracement predicts that DOGE will continue to advance to the Fibonacci extension level of 2.618, or $0.148. Furthermore, the crypto signal is positive but meets resistance at $0.127.
Make money without lifting your fingers: Start using a world-class auto trading solution.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
