DOGE Slips Sideways as It Revisits Its $0.30 Low

Dogecoin (DOGE) Price Long-term Prediction: Ranging

Dogecoin’s (DOGE) price has remained unchanged since the December 20 price drop as it revisits its $0.30 low. The $0.30 support and $0.40 resistance have not been breached by either the bulls or the bears. The price change has been modest due to the presence of Doji candlesticks. The bears made an attempt to break through the $0.30 mark on January 27 but were repelled. The cryptocurrency continued to fall when the pullback struck the barrier level at $0.34.

On the downside, DOGE will drop even lower to $0.26 if the bears break through the $0.30 support. However, if DOGE breaks above the moving average lines, it will restart its bullish trend. It will hit $0.40, its previous peak. The altcoin is dropping today, hitting a low of $0.32.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading 

The extended candlestick tail on January 27 is pointing in the direction of the $0.30 support. This indicates strong buying pressure above the $0.30 support. Since December 20, 2024, the moving average lines have been horizontal as the cryptocurrency slides sideways. The price movement is staying stagnant due to the Doji candlesticks.

What is the next direction for Dogecoin (DOGE)?

DOGE is losing value as it revisits its $0.30 low. For the second time, DOGE will decline to the lower price bracket. The altcoin fell as low as $0.30 on the first visit, but the bulls purchased the dips. On the downside, the existence of Doji candlesticks makes it unlikely that the price would drop much lower than the $0.30 support.

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