Dogecoin Faces Rejection at $0.15 as the Altcoin Declines to $0.12 Low
Login

Dogecoin Faces Rejection at $0.15 as the Altcoin Declines to $0.12 Low

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

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 above the moving averages as the altcoin declines to $0.12 low. On March 28, the cryptocurrency rallied to $0.15 high. The bulls could not sustain the bullish momentum after four days of retesting the resistance zone. The uptrend will resume if the altcoin retraces above the moving averages. On the other hand, the downtrend will resume if price breaks below the moving averages. The decline will extend to the low of $0.12 price level.

Dogecoin Faces Rejection at $0.15 as the Altcoin Declines to $0.12 Low
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The altcoin has fallen to level 57 of the Relative Strength Index for period 14. Dogecoin is still in the uptrend zone and capable of a further upward move. The crypto’s price is still above the moving averages. However, the downtrend will resume if price breaks below the moving averages. The 21-day line and 50-day line moving averages are sloping horizontally.

DOGE/USD Medium-term bias: Bullish
On the 4 – hour chart, the DOGE price is in a downtrend. DOGE price has already broken below the moving averages signaling a further downward movement of the cryptocurrency. Meanwhile, on March 19 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOGE will fall to level 2.0 Fibonacci extension or $0.12. From the price action, the altcoin is falling and has reached the low of $0.13 at the time of writing.

Dogecoin Faces Rejection at $0.15 as the Altcoin Declines to $0.12 Low
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 40% range of the daily stochastic. It indicates that the market has resumed bearish momentum. The 21-day line and 50-day line moving averages are pointing northward indicating the
previous trend.

General Outlook for Dogecoin
DOGE/USD has resumed its downtrend as the altcoin declines to $0.12 low. Buyers could not break the next resistance level at $0.15. Dogecoin is likely to resume downward correction.


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