DOGE Stays in a Range beneath the $0.40 Barrier

Dogecoin (DOGE) Price Long-term Prediction: Ranging

The price of Dogecoin (DOGE) has remained above the $0.30 support and beneath the $0.40 barrier. DOGE has remained within its narrow range of fluctuations since the December 19 price slump. The rising moves have been denied three times at the $0.40 resistance. The positive momentum above the most recent high has not been maintained by buyers.

The bearish trend hit a low of $0.33 on January 19, breaking below the moving average lines. The cryptocurrency asset is oscillating above the $0.30 support but below the moving average lines. On the downside, if DOGE is rejected at the moving average lines, it will return to the earlier lows of $0.30 and $0.26. At the time of writing, DOGE is currently valued at $0.36.

Technical indicators

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

Dogecoin (DOGE) Indicator Reading 

The sideways movement has kept the 50-day and 21-day SMAs horizontal. The price bars fluctuate above and below the moving average lines. Doji candlesticks, which are limited to a range, dominate the price bars. A bearish indication is indicated by the bearish crossover of the moving average lines.

What is the next direction for Dogecoin (DOGE)?

DOGE will continue its range-bound move above the $0.30 support and beneath the $0.40 barrier. The bears are ahead of the bulls since the altcoin is trading in the bearish trend zone. On the downside, if the $0.30 support is breached, the selling pressure will return. In the meantime, DOGE stayed contained within a range, making the crypto signal range-bound.

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