DOGE Slumps as It Risks a Decline to $0.209

Dogecoin (DOGE) Price Long-term Prediction: Bullish

The price of Dogecoin (DOGE) falls as it risks a decline to $0.209. The cryptocurrency asset has dropped below the 21-day SMA support. On the upside, further higher movement of the cryptocurrency is improbable as DOGE loses its 21-day SMA support. The negative momentum is expected to continue to a low above the 50-day SMA support, or $0.235.

Furthermore, if the bears break below the 21-day and 50-day SMA support levels, DOGE would fall to a new bottom of $0.209. At the time of writing, DOGE was valued at $0.249.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading

Recently, DOGE has slipped between the 21-day SMA support and the 50-day SMA low. The next support will be the 50-day SMA. Despite the cryptocurrency’s decrease, the moving average lines on the daily chart remain in their upward slope. On the 4-hour chart, the horizontal moving average lines are sloping downward, indicating a decrease.

What Is the Next Direction For Dogecoin (DOGE)?

DOGE begins to decline as it risks a decline to $0.209. On the 4-hour chart, the altcoin was trading above the $0.26 support and below the $0.29 high. On the downside, DOGE has dropped below its current support level of $0.26. The cryptocurrency signal is negative as bears have breached below the moving average lines.

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