Dogecoin (DOGE) Faces Rejection at $0.060 Resistance, Plunges To $0.0512 Support


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

DOGE/USD Long-term Trend: Bearish
DOGE price has fallen to $0.0512 at the time of writing. The downtrend was caused by rejection at the $0.060 price level. In the previous price action, the coin has been trading below $0.064 overhead resistance. The bulls could not break the overhead resistance after two unsuccessful attempts. Today, the downtrend is likely to continue.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The crypto’s price has broken the support line of the ascending channel. Similarly, the altcoin has fallen below the SMAs. All indicate that DOGE is likely to fall on the downside. DOGE is at level 43 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone and below the centerline 50. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Bearish
On the 4 hour chart, the crypto is in a downward move. Recently, it retested the $0.056 high and resumed a downward move. Meanwhile, on March 23 downtrend, a retraced candle body tested the 32.8 % Fibonacci retracement level. The retracement indicates that DOGE will fall to level 2.618 Fibonacci extension . That is the low of $0.0435.

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 bearish momentum. The SMAs are sloping downward.

General Outlook for Dogecoin
DOGE is in a downtrend. The selling pressure is likely to continue as the crypto faces rejection at $0.056. The coin has fallen into the bearish trend and capable of a further downward move.

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.