DOGE Maintains Its Slide as It Holds above $0.22

Dogecoin (DOGE) Price Long-term Prediction: Bearish

The price of Dogecoin (DOGE) has been falling as it holds above $0.22. The cryptocurrency asset has fallen to a level above the 21-day SMA or a low of $0.225. The price has been battling to stay above the 21-day SMA support since July 28 for both bulls and bears. If the bulls maintain the 21-day SMA support, DOGE’s upward trend will resume.

The altcoin will rise to the previous high of $0.28, and DOGE will increase once more. However, if the bears break below the 21-day SMA support, DOGE will drop to $0.20. DOGE is still trading above $0.22 today as the bears keep pushing the altcoin lower.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading

For the past 48 hours, the price bars of cryptocurrencies have retraced above the 21-day SMA support. Notwithstanding the decrease, the 50-day and 21-day SMAs are rising. The 4-hour chart’s current downward trend has the price bars below the moving average lines. The horizontal moving average lines also show the sideways trend that is currently in place. 

What Is the Next Direction For Dogecoin (DOGE)?

DOGE is trading in the bullish trend zone as it holds above $0.22. After finding support above $0.22, the cryptocurrency asset has started to trade downwards. The bulls bought the dips despite four retests of the current support level at $0.22. If the bears are unable to break through the $0.22 support, the sideways move will continue.

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