Dogecoin Finds Support above $0.740 as It Resumes an Uptrend

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

Dogecoin (DOGE) Price Long-term Prediction: Bullish
The price of Dogecoin (DOGE) is resuming an uptrend as it seeks to retest or break the resistance at $0.074. The altcoin’s rise ended on October 26 as it plummeted to a low of $0.067. DOGE has been forced to trade sideways between $0.066 and $0.074 for the last week.

Today, the DOGE/USD has resumed its rise, breaking above the barrier level of $0.074. The cryptocurrency asset is likely to surge much further to prior highs. The price indicator predicts that Dogecoin will rise to the $0.086 level, or the 1.618 Fibonacci extension.

The altcoin will drop and revert to its previous range if the bullish scenario is shown to be untrue. Meanwhile, the altcoin is now trading at $0.075 at the time of writing.

Dogecoin (DOGE) Indicator Reading
The horizontal moving average lines on the 4-hour chart are sloping upward as DOGE recovered bullish momentum. As the altcoin leaps forward, the price bars are rising above the moving average lines. This means that DOGE will keep rising as long as the price bars are above the moving average lines.

What is the next direction for Dogecoin (DOGE)?
Dogecoin is breaking above the current price range of $0.066 to $0.074 as it resumes an uptrend. The coin is now dropping in value. If it retraces and finds support above $0.074, the present uptrend will continue. This will cause the coin to return to its prior highs.

Otherwise, the cryptocurrency will fall back inside the range bound zone.

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