DOGE Increases But Remains Stuck At The $0.45 Barrier

Dogecoin (DOGE) Price Long-term Prediction: Bullish

Dogecoin’s (DOGE) price has remained above the 21-day SMA support but remains stuck at the $0.45 barrier. Buyers maintained the bullish trend by defending the 21-day SMA support. On November 26, the bears attempted to break through the 21-day SMA support, but bulls purchased the dips. DOGE is gaining, preparing to retest or break above the $0.45 barrier level.

On the upside, if buyers are successful, DOGE will reach a high of $0.50. DOGE, on the other hand, faces a fall if buyers fail to maintain their bullish momentum above the resistance level of $0.45. On the downside, if the altcoin falls below the 21-day SMA, the selling pressure will build until it reaches the bottom above the 50-day SMA, or $0.24. Meanwhile, DOGE is currently valued at $0.419.

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Technical indicators

Major Resistance Levels – $0.16 and $0.18
Major Support Levels – $0.10 and $0.08

Dogecoin (DOGE) Indicator Reading 

DOGE is trading in a bullish trend, with the price bars above the moving average lines. There are three candlestick wicks heading towards the resistance zone. The candlesticks show heavy selling pressure at the recent peak. On the 4-hour chart, Doji candlesticks have dominated price action, causing it to stay within the price range.

What is the next direction for Dogecoin (DOGE)?

On the 4-hour chart, DOGE has begun a sideways trend but remains stuck at the $0.45 barrier. DOGE’s price is consolidating below and above the moving average lines as it maintains its horizontal trend. DOGE is solidifying due to the introduction of Doji candlesticks. This suggests that traders are unsure about the cryptocurrency’s next move. The crypto signal is range-bound.

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