DOGE Resumes Selling Pressure Beneath the $0.22 Level

Dogecoin (DOGE) Price Long-term Prediction: Bullish

The price of Dogecoin (DOGE) is in the bearish trend zone beneath the $0.22 level. The crypto asset decline below the 21-day SMA could be an indication that selling pressure is starting up again. The 21-day SMA was retested after the cryptocurrency asset fell below it. The altcoin will probably drop above the $0.19 low or the 50-day SMA support. 

If it maintains its position above the 50-day SMA support, the altcoin will resume its upward trajectory. DOGE is going to rise and retest the 21-day SMA barrier. However, the decline would reach $0.17 if the bears broke below the 50-day SMA support. The current value of DOGE is $0.22.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading

DOGE price has fallen beneath the 21-day SMA support. The altcoin will probably trade above the 50-day SMA support and below the 21-day SMA barrier. The prior rise is indicated by the moving average lines’ increasing slope. The price bars are beneath the 4-hour chart’s horizontal moving average lines. It suggests that DOGE may be about to plummet.

What is the next direction for Dogecoin (DOGE)?

DOGE’s price is trending sideways and has dropped beneath the $0.22 level. The altcoin has been trading above the $0.215 support but below the $0.25 barrier on the 4-hour chart. The price bars are below the moving average lines and are retesting the moving average lines to resume a bullish trend. DOGE will decline if the current support level at $0.215 is breached.

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