DOGE Stalls Above $0.14 as It Continues to Drop

Dogecoin (DOGE) Price Long-term Prediction: Bearish

Dogecoin’s (DOGE) selling pressure has subsided above the $0.142 support as it continues to drop. For the previous week, DOGE has been trading above the $0.14 support but below the $0.18 resistance. The upward move has been restrained by the $0.18 barrier. However, if the bears break through the $0.14 support, the selling pressure will resume.

According to the price indicator, cryptocurrency assets will keep declining. On the other hand, DOGE will fall to level 2.0 of the Fibonacci extension, or $0.048. The decline has been stopped at the $0.14 support. The current price of DOGE is $0.173 as of this writing.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading 

The price of DOGE is most likely going to keep declining because the price bars are below the moving average lines. The weekly chart’s upward-pointing moving average lines indicate a previous upward trend. The downward-sloping moving average lines on the daily chart indicate the current trend.

What is the next direction for Dogecoin (DOGE)?

DOGE trades in a narrow range above the $0.14 support and below the moving average lines as it continues to drop as it continues to drop. The selling pressure will return to the negative if the $0.14 support is breached. The current trend will reverse when buyers keep the price above the moving average lines.

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