Key Resistance Levels: $0.10, $0.12, $0.14
Key Support Levels: $0.08, $0.06,$0.04
DOGE/USD Long-term Trend: Bullish
The price of Dogecoin (DOGE) is rising but battles the $0.10
barrier level. The DOGE price has been trapped below the most recent high since January 31. At the most recent high, the upward trend is being rejected. The current trend is expected to reach highs between $0.10 and $0.11. The price of the cryptocurrency is being denied, though, at the $0.10 resistance level. The latest high’s long wick suggests that there is selling pressure at a higher price point. If the barrier at $0.10 is broken, Dogecoin will rise back to its prior high of $0.15. However, DOGE/USD will revert to its trading range between $0.07 and $0.10 price levels if buyers are unable to break the most recent high.
Daily Chart Indicators Reading:
At level 62 of the Relative Strength Index for period 14, the altcoin is in the bullish trend zone. As price bars move above the moving average lines, DOGE is expected to increase. At the most recent high, the bullish momentum is, however, being rejected. The upward-sloping movement of the moving average lines indicates an uptrend.
DOGE/USD Medium-term bias: Bullish
On the 4-hour chart, DOGE is on a steady upward trend. A high of $0.10 was attained by the current upswing. If the current resistance is broken, the altcoin will increase to the high of 0.11 from here. To test the most recent high, the price of DOGE is climbing.
4-hour Chart Indicators Reading
The daily Stochastic’s level 50 is where the cryptocurrency asset is in a bullish trend. A further upward movement is indicated by the price bars being above the moving average lines.
General Outlook for Dogecoin
. Dogecoin is in a rally but battles the $0.10 high. On February 4, DOGE retested the $0.10 resistance and retreated. Today’s retesting of the most recent high has resumed the positive momentum.
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