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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 Dogecoin (DOGE) price is in a bearish trend as it hovers above $0.070. The price of DOGE is currently $0.074, which is above the 21-day SMA but below the 50-day SMA. Hence, DOGE will have to perform maneuvers with a limited range at first. If the price of the crypto asset surpasses the resistance at $0.078 and the 50-day SMA, the trend will resume. As a result, DOGE will rise to hit its prior high of $0.09. In a similar vein, if price declines below the 21-day SMA, the market will shift toward $0.065. Doji candlesticks have been present, therefore the price movement hasn’t changed since then.
Dogecoin (DOGE) Indicator Reading
DOGE is at level 49 on the Relative Strength Index for period 14. Due to the existence of Doji candlesticks, Dogecoin has continued to trade in the bearish trend zone. The moving average lines have constrained the price bars, forcing the altcoin to trade in a narrow range. Although it is trapped at the most recent high, the altcoin is in a strong momentum. That is higher than the daily Stochastic’s level 25.
What is the next direction for Dogecoin (DOGE)?
The price of DOGE has been moving sideways since March 14 as it hovers above $0.070. Since March 14, the price of the alternative currency has fluctuated between $0.070 and $0.00. The upward momentum has been halted by the $0.078 resistance. The moving average lines have also restricted DOGE’s price movement.
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