Dogecoin (DOGE) Upward Move Is Stalled Below $0.27 Resistance, May Resume Upward

Updated:

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

DOGE/USD Long-term Trend: Bullish
Dogecoin’s (DOGE) price has broken above the moving averages as the altcoin rallied to the $0.28 resistance zone. On October 6 uptrend, the bulls were resisted at the $0.27 high. Dogecoin declined to $0.22 low and resumed a fresh uptrend. Today, the bulls are retesting the resistance level to break above it. Meanwhile, on October 6 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.618 Fibonacci extension or level $0.38.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE is at level 58 of the Relative Strength Index period 14. It indicates that the altcoin is in the bullish trend zone and capable of a further upward move. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

DOGE/USD Medium-term bias: Bullish
On the 4 hour chart, the DOGE price is in an uptrend. The price has broken above the moving averages but faces rejection at the $0.27 resistance zone. Meanwhile, on October 18 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.618 Fibonacci extension or level $0.34.

DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
DOGE’s price is above the moving averages but the uptrend has been stalled. DOGE is below the 80% range of the daily stochastic. The market is in a bearish momentum but the price bars are above the 21-day SMA. The moving averages are sloping upward indicating the uptrend

General Outlook for Dogecoin
Dogecoin is in an uptrend. The current uptrend is stalled below the $0.27 resistance level. The cryptocurrency will rally to $0.34 if the current resistance is breached. The bullish momentum will extend to the high of $0.38.


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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • 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
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
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.