Dogecoin Faces Rejection at $0.14 as It Risks another Decline to $0.12
Login

Dogecoin Faces Rejection at $0.14 as It Risks another Decline to $0.12

Estimated Reading Time: 3 minutes

Azeez Mustapha

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 is in a downward correction as it risks another decline to $0.12 .The cryptocurrency is trading above the 50-day line SMA but below the 21-day line SMA. This implies that the altcoin is in a range-bound movement between the moving averages. Dogecoin is making an upward correction to the upside. A break above the 21-day line SMA will propel the DOGE to rally to the $0.17 high. Subsequently, the altcoin will reach a high of $0.22. Conversely, if the bears break below the 50-day line SMA, the altcoin will decline to $0.11 low. Today, the bulls are attempting to break above the 21-day line SMA.

Dogecoin Faces Rejection at $0.14 as It Risks another Decline to $0.12
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The crypto’s price is between the moving averages indicating a possible range bound movement of the cryptocurrency. The altcoin is facing rejection as bulls attempt to break the 21-day line SMA. The altcoin has fallen to level 52 of the Relative Strength Index for period 14. Dogecoin is in the uptrend zone and capable of rising to the upside.

DOGE/USD Medium-term bias: Bearish
On the 4– hour chart, the DOGE price is in a downtrend as it reaches the low of $0.13. The altcoin is making an upward correction but faces rejection at $0.14. Meanwhile, on April 11 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOGE will fall but reverse at level 1.272 Fibonacci extension or $0.12.

Dogecoin Faces Rejection at $0.14 as It Risks another Decline to $0.12
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 40% range of the daily stochastic. The market is in a bullish momentum. The 21-day line and 50-day line moving averages are sloping horizontally indicating a sideways move.

General Outlook for Dogecoin
DOGE/USD is still in a downward correction as it risks another decline to $0.12. The altcoin is in a sideways move as bulls attempt to resume upward. Dogecoin will further decline if the $0.13 support is breached

You can purchase crypto coins here: Buy LBlock


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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News