Dogecoin Faces More Selling Pressure as It Hits the Resistance at $0.070

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Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) is now trading above both moving average lines as it hits the resistance at $0.070. The bullish momentum has set its sights on the $0.75 high. Since October 26, the price of DOGE has been between $0.068 and $0.074.

DOGE/USD has retraced to a low of $0.069 as of this writing. The crypto will certainly face more rejection at the high of $0.076, making an upward move doubtful. The altcoin is presently trading at a low of $0.075. Nonetheless, if the coin increases, the current resistance levels will be breached.

The altcoin will rise even further, reaching a high of $0.085. The altcoin is retracing downward and may fall even further to a low of $0.065.

Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Indicator Reading
The price bars are currently above the moving average lines, but the increasing trend is stalled at the most recent high. DOGE is caught between the moving average lines in the lower time range. This suggests that price movement will remain range-bound for a few days.

DOGE is currently decreasing as it confronts rejection at $0.070.

What is the next direction for Dogecoin (DOGE)?
DOGE/USD is declining after being rejected at the $0.075 high as it hits the resistance at $0.070. The cryptocurrency has dropped to a range. It is restricted between the moving average lines on the 4-hour chart. In other words, it is limited to the price range of $0.066 to $0.070.

On the downside, a bearish break below the $0.066 support will send the market back to the previous range-bound zone between $0.060 and $0.064 price levels.

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