Dogecoin (DOGE) Breaks and Retests the $0.20 Support, Downtrend Likely

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
Dogecoin (DOGE) has continued its downward move. The selling pressure resumes after the upward correction was terminated at the $0.29 high. On June 21, the coin has earlier fallen to the low of $0.1650 as bulls bought the dips. The market is falling and revisiting the previous low. On May 12 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 level $0.11. From the price action, the market has fallen to the low of $0.18. Further downside is likely.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 32 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The crypto is approaching the oversold region at level 30. The 21-day and 50-day SMAs are sloping southward indicating the downtrend. The 21-day SMA acting as resistance to DOGE price.

DOGE/USD Medium-term bias: Bearish
DOGE price has resumed selling pressure after price correction. On the 4 hour chart, DOGE price has broken the previous low, retested it, and resume downward. Meanwhile, on July 9 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOGE will fall to level 2.0 Fibonacci extensions or level $0.15.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE/USD has declined below the 20% range of the daily stochastic. It indicates that the coin has fallen to the oversold region of the market. Buyers are likely to emerge to push prices upward. The moving averages are sloping horizontally indicating the sideways trend.

General Outlook for Dogecoin
On the 4-hour chart, DOGE/USD is likely to reach the low of $0.15. Meanwhile, the market has reached the oversold region of the market. The selling pressure is likely to subside.

You can purchase crypto coins here: Buy Tokens

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 *