Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin’s (DOGE) price has finally recovered above the $0.261 support as it aims to surpass the $0.480 peak. The bulls resumed their bullish rise above $0.30 after purchasing the dips. The altcoin is rising to either retest or surpass the $0.480 high. The upward trend will restart until the resistance level of $0.48 is breached. On November 25, 2024, during an upswing, a retraced candle body tested the 61.8% Fibonacci retracement line.
The retracement suggests that DOGE will continue to advance to the high of $0.7149 or level 1.618 Fibonacci extension. On the plus side, the altcoin will decline and become range-bound if the bulls are unable to break through the barrier at $0.48. The altcoin will be bouncing between the resistance at $0.48 and the $0.30 support. DOGE is worth $0.348 at the time of writing,
Technical indicators
Major Resistance Levels $0.45 and $0.50
Major Support Levels – $0.30 and $0.25
Dogecoin (DOGE) Indicator Reading
The price bars on both charts have a bullish crossover, meaning they are above the moving average lines. In other words, a bullish signal is indicated when the 21-day SMA is above the 50-day SMA. The price bars were trending above and below the horizontal moving average lines on the 4-hour chart.
What is the next direction for Dogecoin (DOGE)?
DOGE has started to resume an upward trend above the $0.30 support as it aims to surpass the $0.480 peak. The $0.40 and $0.48 resistance levels will be the target of the bullish momentum. Buyers have overcome the initial hurdle at $0.34 as the altcoin continues its upward journey. The cryptocurrency signal is good when DOGE returns to its bullish trajectory.
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