DOGE Slumps but Returns to the $0.19 Low

Dogecoin (DOGE) Price Long-term Prediction: Bearish

The price of Dogecoin (DOGE) had fallen below the moving average lines, but it has since recovered to the $0.19 low. Since the August 8 breakout, the cryptocurrency has been trading above the moving average lines. The altcoin was above the moving average lines but below the $0.25 resistance level.

On the downside, the DOGE price has fallen below the moving average lines and may fall further to the lowest price level. The downward trend will drop to $0.19. On the upside, buyers must sustain the price above the moving average lines to reclaim their bullish trend.DOGE is now worth $0.212.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading

Following the most recent decrease, the DOGE price bars have fallen below the moving average lines. To establish a bullish trend, the bulls are attempting to push the price above the 50-day SMA. DOGE will fall further if it breaks down from the moving average lines. The price bars are lower than the downward-sloping moving average lines. The 21-day SMA has fallen below the 50-day SMA, signaling a downturn.

What Is the Next Direction For Dogecoin (DOGE)?

The price bars fall and pause above the $0.21-day SMA support but then return to the $0.19 low. However, the upward correction failed at $0.21500. On the negative, if the bears broke through the current support, the currency would fall to its previous low of $0.19. The altcoin has fallen below the moving average lines, indicating a negative bearish signal.

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