Dogecoin Is in a Sharp Fall, Faces Rejection from $0.15

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 is still in a downward correction but faces rejection from $0.15 . The cryptocurrency is confined in a range between $0.13 and $0.15 price levels. Since April 11 bearish impulse, buyers have been making attempts to break above the 21-day line SMA. The bullish moves were repelled at the $0.15 resistance zone. Today, Dogecoin is still trading in a confined range. Besides, the price bars are between the moving averages which are responsible for the range-bound movement. On the upside, if the bulls break above the 21-day line SMA, the market will rally to $0.17 high. On the other hand, the selling pressure will resume, if the bears break below the 50-day line SMA.

Dogecoin Is in a Sharp Fall, Faces Rejection from $0.15
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
The altcoin is at level 50 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The crypto’s price is between the moving averages indicating that the market will be in a range-bound move. The 21-day line SMA and the 50-day line SMA are sloping upward indicating the uptrend.

DOGE/USD Medium-term bias: Bearish
On the 4– hour chart, the DOGE price is in an upward move as price breaks above the moving averages. The current uptrend is stuck below the $0.15 resistance. Meanwhile, on April 20 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.0 Fibonacci extension or $0.159.

Dogecoin Is in a Sharp Fall, Faces Rejection from $0.15
DOGE/USD – 1 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 25% 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 and confined in a range but but faces rejection from $0.15. Dogecoin will trend when the moving average lines are breached. The altcoin is facing rejection at $0.15.



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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.