DOGE Oscillates Below $0.45 And Returns To A Sideways Pattern

Dogecoin (DOGE) Price Long-term Prediction: Bullish

Dogecoin (DOGE) maintains its bullish run but returns to a sideways pattern. The altcoin has entered the overbought zone and is approaching its historical price level of May 31, 2021. Buyers broke through the resistance at $0.18 and $0.20, allowing the present positive trend to continue. The bullish momentum reached a high of $0.487 before pulling back.

During the November 13 rise, a retraced candle body tested the 78.6% Fibonacci retracement. The pullback indicates that DOGE will increase but reverse at the 1.272 Fibonacci extension, or $0.50 high. DOGE is currently locked below the $0.45 resistance zone but has dropped to a low of $0.42.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading 

DOGE is expected to rise as the price bars exceed the moving average lines. On the 4-hour chart, the price bars are located between the horizontal moving average lines. The altcoin went into a sideways pattern once the rally ended.

What is the next direction for Dogecoin (DOGE)?

DOGE trades above the $0.35 support but below the $0.45 resistance as it returns to a sideways pattern. The altcoin price range is distinguished by a small-body, indecisive candlestick. On the upside, the bullish trend will commence when buyers break through the resistance at $0.45. Meanwhile, the crypto signal remains range-bound as the altcoin faces resistance at $0.45.

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