DOGE is on the Rise but Faces a $0.23 Hurdle

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin (DOGE) recovers above the $0.19 low but faces a $0.23 hurdle. Bulls bought the dips as the cryptocurrency price surpassed the 50-day SMA level. DOGE is now trading between the moving average lines. The crypto asset has now surpassed the initial barrier of $0.21. On the upside, DOGE is anticipated to reach a high of $0.25.

Nonetheless, the cryptocurrency price is rising as it nears the 21-day SMA barrier. The altcoin will probably move in a range between the moving average lines if it doesn’t break above the 21-day SMA. DOGE is now trading at $0.22.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading

Following the breakout on August 3, the cryptocurrency price is now between the moving average lines. DOGE is trading above the 50-day SMA support but below the 21-day SMA. The moving average lines are rising as a result of the upward trend. The 21-day SMA is higher than the 50-day SMA, indicating a bullish trend.

What Is the Next Direction For Dogecoin (DOGE)?

DOGE rises above the $0.19 support level but faces a $0.23 hurdle. The cryptocurrency reached a high of $0.23 before being repulsed. The bullish trend has begun following a retracement above the $0.22 support. DOGE is rising and is predicted to hit a high of $0.25. The cryptocurrency signal is favorable because the price bars are above the moving average lines.

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