DOGE Oscillates Around the $0.165 Resistance Level

Dogecoin (DOGE) Price Long-term Prediction: Ranging
Dogecoin (DOGE) price rebounds but oscillates around the $0.165 resistance level. The cryptocurrency price is trying to break above the 21-day SMA, or the $0.162 high. If the present barrier is crossed, DOGE will hit its prior high of $0.17.

However, if the bear’s breach occurs below the 50-day SMA, DOGE will fall to a low of $0.14. Currently, breaking the moving average lines will determine whether the move is downward or upward. DOGE is currently retreating to its $0.16 support, which lies between the moving average lines.

The altcoin will oscillate between the moving average lines during the next few days. DOGE/USD is trading at $0.161 as of this writing.

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Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Indicator Reading 
DOGE has retraced the moving average lines. The bullish momentum failed to break above the 21-day SMA. The cryptocurrency is trapped and will be forced to fluctuate while remaining between the moving average lines.

What is the next direction for Dogecoin (DOGE)?
On the 4-hour chart, DOGE is currently trading in a close range but oscillates around the $0.165 resistance level. The upward movement has paused at the $0.165 high. DOGE is oscillating above the moving average lines but below its recent high.

The range-bound movement will continue if buyers fail to sustain the price above the recent high. Meanwhile, the crypto signal is limited by the altcoin’s range.

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