Dogecoin Continues to Consolidate as It Remains above $0.078

Dogecoin (DOGE) Price Long-term Prediction: Ranging
The Dogecoin (DOGE) price has fallen below the moving average lines as it remains above $0.078. Since the January 3 price drop, the present support at $0.078 has held. The bears have repeatedly broken below the present support, but the bulls will buy the dips.

If the bears succeed, the market will decline as low as $0.070. In this approach, buyers have failed to keep the price above the moving average lines, delaying the positive trend. The crypto’s price will fall below the moving average lines, each time the price breaks above the 21-day SMA.

Today, DOGE is down after being rejected at the 21-day SMA. DOGE’s range will remain as long as the cryptocurrency’s price does not break the range-bound levels. In a word, DOGE is trading above $0.078 but below its moving average lines.

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

Dogecoin (DOGE) Indicator Reading
The cryptocurrency price has held below the moving average lines, with the 21-day SMA acting as a resistance line. The price action is characterized by candlesticks with extended tails, indicating significant buying demand at lower prices.

What is the next direction for Dogecoin (DOGE)?
The 4-hour chart shows DOGE/USD as it remains above $0.078. The price action is fully dominated by the little body of indecisive candlesticks known as Doji. The Doji candlesticks indicate buyers’ and sellers’ apathy to market trends. The crypto signal will be range-bound as long as Doji candlesticks are there.

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