DOGE Rise Slows at $0.128 as Bears Renew Bearish Momentum

Azeez Mustapha

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Dogecoin (DOGE) Price Long-term Prediction: Ranging
Dogecoin’s (DOGE) price remains stable above $0.12 and bears have renewed bearish momentum. On June 18, the bears broke through the current support at $0.12, while bulls bought the dips. The bulls are regaining ground as they push the price above the $0.12 support.

If the bulls succeed, DOGE will revert to its trading range. The altcoin will ascend to the next resistance level, $0.18. If the present resistance level is breached, the cryptocurrency will rise to its prior high of $0.22. DOGE has fallen below the $0.12 support, and bears are aiming to maintain the bearish momentum as the altcoin faces rejection at $0.128.

If the bears succeed, DOGE/USD will fall between $0.10 and $0.08. DOGE is now trading at $0.125.

DOGE Rise Slows at $0.128 as Bears Renew Bearish Momentum
DOGE/USD – Daily Chart

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

Dogecoin (DOGE) Indicator Reading 
The price bars on the 4-hour chart recovered above the moving average lines after bulls bought the dips. However, the upward correction is stalling as the altcoin is rejected at the $0.128 high. The slide will begin if the bulls fail to defend the $0.12 support.
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What is the next direction for Dogecoin (DOGE)?
DOGE’s current price range has changed as bears renew bearish momentum. However, if DOGE falls below the present price of $0.12, it will drop. However, if the current support holds, it will remain range-bound. The cryptocurrency signal is ambiguous as DOGE fluctuates above the $0.12 support.

DOGE Rise Slows at $0.128 as Bears Renew Bearish Momentum
DOGE/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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