Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin’s (DOGE) price has continued its recovery from the bottom of the chart as it resumes its advance. Today, DOGE has rallied to the high of $0.47 but was halted. The crypto asset is expected to revisit the peak price of $0.75. However, since November 12, the bullish trend has stalled as the altcoin commenced a sideways move below the recent high. DOGE is trading in a narrow range above the moving average but below the resistance level of $0.45.
On the upside, if buyers break through the barrier at $0.45, the market will soar to a high of $0.50. Conversely, if the bears break below the 21-day SMA, the cryptocurrency will fall. DOGE will fall above the 50-day SMA or $0.30 support. Meanwhile, the altcoin is currently valued at $0.43.
Technical indicators
Major Resistance Levels – $0.16 and $0.18
Major Support Levels – $0.10 and $0.08
Dogecoin (DOGE) Indicator Reading
DOGE has halted at a recent high, having hit the overbought zone. On the upside, candlestick wicks point to the $0.45 resistance level. The candlestick wicks suggest significant selling pressure in the resistance zone. The 4-hour chart’s moving average lines are horizontal due to the sideways trend.
What is the next direction for Dogecoin (DOGE)?
DOGE commences a sideways trend on the 4-hour chart but resumes its advance. DOGE is now trading in a narrow range above $0.38 support and below the $0.45 high. When the range-bound thresholds are breached, the cryptocurrency will increase or decrease accordingly. The crypto signal remains range-bound as the altcoin consolidates.
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