Dogecoin Declines as It Faces Stiff Rejection at $0.085

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

Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) price is bouncing below the resistance level as it faces stiff rejection at $0.085. On July 25, the current resistance level was retested and rejected. Buyers have been struggling to break through the resistance level over the past week.

The current resistance level represents an overbought market zone. However, the price indicator has indicated that the cryptocurrency would continue to rise. DOGE is predicted to achieve a high of $0.090 before reversing at that level.

The crypto asset will be forced into a range-bound trend after failing to break through the recent high.

Dogecoin (DOGE) Indicator Reading
DOGE is at Relative Strength Index level 60 for period 14. The altcoin has the potential to rise even more. Because the price bar is above the moving average lines, the cryptocurrency is rising. The altcoin is rising over the daily Stochastic threshold of 75, indicating a bullish trend.

What is the next direction for Dogecoin (DOGE)?
Dogecoin is on a bullish trend as it faces stiff rejection at $0.085. As long as the coin remains above the moving average lines, it will climb. The coin will trade between $0.070 and $0.085 after failing to break the recent high.

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