Dogecoin (DOGE) Price Long-term Prediction: Bearish
The Dogecoin (DOGE) price rises above the $0.18 support level and closes above it. On October 10, the DOGE price fell to a low of $0.083, but the bulls bought the dips. For the past 48 hours, the cryptocurrency has been correcting upward, but the positive momentum has paused at the $0.22 high. DOGE is now trading in a tight range between the $0.18 support and the $0.18 high.
On the upside, if buyers break through the $0.22 barrier and push the price above the moving average lines, the altcoin will resume positive momentum. DOGE will rise, returning to earlier highs of $0.26 and $0.30. On the downside, bulls are defending the $0.18 support as DOGE continues to rise. DOGE is now worth $0.203.
Technical indicators
Major Resistance Levels $0.45 and $0.50
Major Support Levels – $0.30 and $0.25
Dogecoin (DOGE) Indicator Reading
On the daily chart, the price bars are below the downward-sloping moving average lines. On the 4-hour chart, the price bars are situated between the downward-sloping moving average lines. This suggests a possible range-bound trend for the coin. Furthermore, the lengthy candlestick tail pointing toward $0.08 signals strong buying interest at a lower price level.
What Is the Next Direction For Dogecoin (DOGE)?
DOGE’s price rises above the $0.18 support and closes above it. On the 4-hour chart, the cryptocurrency price is trading above the $0.18 support but below the moving average lines or the $0.22 resistance. Currently, the bullish momentum has broken and closed above the 21-day SMA support. It serves as a gauge for the possible movement of the coin. The cryptocurrency signal is range-bound due to the $0.22 barrier.
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