Dogecoin Faces Rejection at $0.15 Resistance, May Retest the $0.128 Low
Login

Dogecoin Faces Rejection at $0.15 Resistance, May Retest the $0.128 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: Bearish
Dogecoin’s (DOGE) price  fluctuates between $0.128 and $0.15 price levels but may retest the $0.128 low. Since January 22 price slump, the downtrend has ended as the cryptocurrency fell to the low of $0.12. Dogecoin will resume an uptrend if the bulls break above the $0.15 resistance. The crypto will rally to $0.19 high and if the bullish momentum is sustained, DOGE/USD will be out of a downward correction. Conversely, if the bears break below the $0.128 support, the DOGE price will decline to $0.10 low.

Dogecoin Faces Rejection at <img fetchpriority=.15 Resistance May Retest the Dogecoin Faces Rejection at $0.15 Resistance May Retest the $0.128 Low.128 Low" width="1280" height="720" data-lazy-src="https://learn2.trade/wp-content/uploads/2022/02/DOGEUSDDaily_Chart.png.jpeg"/>
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The cryptocurrency has risen to level 36 of the Relative Strength Index for period 14. The altcoin is out of the oversold region but it is in the downtrend zone and below the centerline 50. The altcoin is capable of falling to the downside. The 50-day line SMA and the 21-day line SMA are sloping southward indicating the downtrend.

DOGE/USD Medium-term bias: Bearish
DOGE price is in a downward move but has reached bearish exhaustion. Presently, Dogecoin is consolidating above the $0.128 support`.Meanwhile, on January 13 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOGE price will fall to level 1.272 Fibonacci extension or level $0.114. From the price action, the altcoin has reached the low $0.12 and resumed upward.

Dogecoin Faces Rejection at <img decoding=.15 Resistance May Retest the Dogecoin Faces Rejection at $0.15 Resistance May Retest the $0.128 Low.128 Low" width="1280" height="720" data-lazy-src="https://learn2.trade/wp-content/uploads/2022/02/DOGEDaily_Chart_2.png-1.jpeg"/>
DOGE/USD – Daily Chart

4-hour Chart Indicators Reading
DOGE price is above 40% area of the daily stochastic. The altcoin is in a bullish momentum but it is unstable. The 50-day line SMA and the 21-day line SMA are sloping downward indicating the downtrend.

General Outlook for Dogecoin
Dogecoin is still in a downward correction but may retest the $0.128 low. The price action is characterized by indecisive candlesticks which will prolong the range-bound movement for a few more days.

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
  • 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