Dogecoin Faces Rejection at $0.090 and Reaches Its Prior Peak

Dogecoin (DOGE) Price Long-term Prediction: Bullish
The Dogecoin (DOGE) price is above the moving average lines as it reaches its prior peak. Following the breakout on February 14, the DOGE price is trading above the moving average lines but below the resistance at $0.090. Buyers have made two unsuccessful efforts to maintain bullish momentum above the $0.090 high.

Today, DOGE is rising, reaching a high of $0.086 as of writing. If buyers fail to break through the recent high, DOGE will continue to trade in a range.

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

Dogecoin (DOGE) Indicator Reading
DOGE’s price bars are above the moving average lines, with extended candlestick tails and wicks. The extended candlestick tails above the moving average lines suggest significant buying pressure above the moving average lines.

Similarly, the extended candlestick wicks at the recent high suggest strong selling pressure at higher price levels.

What is the next direction for Dogecoin (DOGE)?
On the 4-hour chart, DOGE’s bullish momentum has hit its limit as it reaches its prior peak. The cryptocurrency price is retracing and approaching the moving average lines. The present uptrend will resume if the price remains above the moving average lines. Since February 17, the cryptocurrency’s signal has fluctuated.

The cryptocurrency asset has been trading in a narrow range.

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