Dogecoin (DOGE) Consolidates Above $0.33 Support as Bulls and Bears Reach a Period of Indecision

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Key Resistance Levels: $0.45, $0.46, $0.47
Key Support Levels: $0.25, $0.20,$0.15

DOGE/USD Long-term Trend: Bearish
Since May 19, Dogecoin fell to $0.215 low as bulls bought the dips. DOGE price corrected upward and resumed consolidation above $0.33. The coin has reached bearish exhaustion and may reverse but not immediately. Meanwhile, on May 10 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOGE will fall and reverse at level 1.272 Fibonacci extension or level $0.326. From the price action, the market has been consolidating above the $0.33 support for the past week.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE/USD has fallen to level 45 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the uptrend

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the DOGE price is falling. On May 9, the coin to level $0.444 and corrected upward to level $0.595. The upward correction was terminated. On May 9 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 1.618 Fibonacci extension or the low of $0.23. On May 19, DOGE price tested the 1.618 Fibonacci extension as shown by a long candlestick tail. The candlestick tail is an indication of strong buying pressure above $0.21 support.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE is below the 40% range of the daily stochastic. It indicates that the coin is in a bearish momentum. The moving averages are sloping southward indicating a downtrend. DOGE’s price is above the 21-day SMA but below the SMAs. A break below the SMAs will suggest a further downward move.

General Outlook for Dogecoin
DOGE/USD is consolidating above $0.33 support for a possible upward move. Today, the market is fluctuating below and above the 21-day SMA. The coin is trading at $0.339 at the time of writing.

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *