Dogecoin Bounces above the $0.060 Support as Buyers Recoup

Dogecoin (DOGE) Price Long-term Prediction: Bearish
The price of Dogecoin (DOGE) has decreased to the current support level of $0.060 as buyers recoup. The market has been range-bound between levels $0.060 and $0.063 since September 11th. The altcoin has tested the $0.060 level of support today.

In general, there hasn’t been any movement in the price. Dogecoin has not been trending for the past month as a result of the Doji candlesticks. The 21-day SMA and the barrier at $0.063 have rebuffed buyers’ frantic attempts to resume the upward move.

On the downside, since August 17, the bulls have continuously protected the present support at $0.060. Long candlesticks that show active purchasing at lower price levels describe the current support. DOGE is now restricted to a narrow range between $0.060 and $0.063.

Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Indicator Reading
The DOGE’s price was formerly limited by moving average lines, however it has now gone below them. The crypto will attempt to bounce if the current support holds. Since the coin’s price fell on August 17, it has started to rise again.

It is unclear whether the current support will hold as bears retest it. If the current support continues to hold, the crypto will try to bounce. Since the price decline on August 17, the coin has begun recovering. As bears retest the existing support, it is uncertain whether it will hold. The horizontal moving average lines signify a sideways trend.

What is the next direction for Dogecoin (DOGE)?
Dogecoin’s range-bound movement will continue as buyers recoup. The value of the altcoin is rising over the existing support. Buyers have maintained the existing support since August 17. The Doji candlesticks also restrict the cryptocurrency’s price movement.

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