Dogecoin (DOGE) Continues Fluctuations Between $0.050 and $0.070, Targets the $0.072 High

Dogecoin (DOGE) Continues Fluctuations Between $0.050 and $0.070, Targets the $0.072 High

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE price is presently rising in a confined range. The crypto’s price is fluctuating between $0.050 and $0.070. On March 31, the bulls attempted to break the $0.070 resistance but were repelled. On the upside, if the bulls break the resistance, the uptrend will resume. Otherwise, the range-bound movement will continue within the confined range.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 57 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and capable of rising. The 50-day and 21-day SMAs are sloping horizontally indicating the range-bound movement.

DOGE/USD Medium-term bias: Ranging
On the 4 hour chart, the crypto price is fluctuating. DOGE price is facing rejection at the $0.066 resistance. The market will fall each time price tested the resistance. Meanwhile, on April 6 uptrend, a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.0 Fibonacci extension. That is the high of $0.072.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 25% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The coin has a bullish crossover, that is, the 21-day SMA crossing over the 50-day SMA. This indicates a bullish signal. The 21-day and 50-day SMAs are sloping upward.

General Outlook for Dogecoin
DOGE price is still trading within a confined range. Buyers are pushing price to the resistance level. The market will resume an uptrend properly if the resistance level at $0.70 is breached. DOGE is trading at $0.061 at the time of writing.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.