Dogecoin (DOGE) Price Long-term Prediction: Bearish
The price of Dogecoin (DOGE) begins its decline as it breaks below the $0.15 support. DOGE has been trading sideways since March 10 between the $0.15 support and below the resistance at $0.20 or the moving average lines. Since DOGE is rejected at $0.20, it is doubtful that the altcoin will advance much more. The selling pressure started today when DOGE hit a low of $0.1420.
As the altcoin drops, DOGE will fall to the next support level at $0.10. According to the price signal, DOGE will drop to the $0.048 low or level 2.0 of the Fibonacci extension.
Dogecoin (DOGE) Indicator Reading
DOGE is declining as the price bars fall below the moving average lines. The selling pressure has resumed as the bears broke below the 21-day SMA support and retested it before resuming the negative trend. On the daily chart, the moving average lines have a downward slope. However, the price movement has been constrained by the Doji candlesticks.
Technical indicators
Major Resistance Levels $0.45 and $0.50
Major Support Levels – $0.30 and $0.25
What is the next direction for Dogecoin (DOGE)?
The cryptocurrency asset is currently above $0.1400 as it begins its decline. It is probable that the selling pressure will persist till the lows of $0.10 and $0.09. Over the last 48 hours, the altcoin has been bouncing above the $0.1400 support. The altcoin is now in the market’s oversold area. Meanwhile, the price indicator indicates that the cryptocurrency signal is negative.
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