DOGE Slumps Above $0.124 but Keeps Its Range Below $0.16

Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin’s (DOGE) price has fallen below the moving average lines but keeps its range below $0.16. The crypto price encountered resistance at $0.18 and fell below the 21-day SMA. The crypto price retested the 21-day SMA and continued to fall between the moving average lines.

DOGE is trading below the 21-day SMA resistance but above the 50-day SMA. On the downside, if the bears break below the 50-day SMA support, DOGE will fall above the $0.082 level. On the upside, the altcoin’s bullish momentum will resume if buyers sustain the price above the 21-day SMA.

The current price volatility will continue if the moving average lines remain unbroken. DOGE/USD is now worth $0.148 as of this writing.

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

Dogecoin (DOGE) Indicator Reading
DOGE’s price has dropped and is caught between the moving average lines. The crypto’s price rises then falls, twice retesting the 21-day SMA. DOGE will trade in a range if the moving average lines don’t break. On the 4-hour chart, the price bars are caught between the moving average lines as DOGE maintains its range.

What is the next direction for Dogecoin (DOGE)?
DOGE’s selling pressure has eased above the $0.0124 support but keeps its range below $0.16. The moving average lines have halted the rising movement. The altcoin trades in a limited range of $0.124 to $0.160. The crypto signal will stay range-bound as long as DOGE is kept within a particular range.

The extended candlestick tail at the bottom of the chart implies significant buying pressure at the present support level.

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