Dogecoin (Doge) Fluctuates Between $0.050 and $0.060, May Resume Uptrend

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

DOGE/USD Long-term Trend: Ranging
Today, the DOGE price is falling after reaching the high of $0.059. Generally, the altcoin is in a downward correction after the March 15 drawdown. The crypto fell to the low of $0.0550 and commenced range-bound movement. The coin is fluctuating between $0.055 and $0.060. DOGE will resume upward if the price breaks the $0.060 price level. Otherwise, the current fluctuation will persist.

Daily Chart Indicators Reading:
DOGE is at level 54 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and above the centerline 50. The 50-day and 21-day SMAs are sloping horizontally indicating the sideways move.

DOGE/USD Medium-term bias: Ranging
On the 4 hour chart, the crypto is range-bound. The price is likely to move up if the resistance at $0.060 is breached. On March 8, a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 1.618 Fibonacci extension . That is the high of $0.072.

4-hour Chart Indicators Reading
DOGE is above the 60% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The SMAs are sloping upward.

General Outlook for Dogecoin
DOGE is still fluctuating between $0.050 and $0.060. The crypto is yet to trend. The altcoin is likely to trend if price breaks the upper price range. Buyers are struggling to break the resistance at $0.060.



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