Dogecoin Is Stuck in a Range as Suppliers Threaten to Short
Login

Dogecoin Is Stuck in a Range as Suppliers Threaten to Short

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

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

Dogecoin (DOGE) Price Long-term Prediction: Bearish
The price of Dogecoin (DOGE) is falling between the moving average lines as suppliers threaten to short. The decline is approaching the 50-day simple moving average line. The selling pressure will intensify should the price drop below the moving average lines.

According to the price indication, DOGE will fall to the 1.618 Fibonacci extension, or $0.075. The cryptocurrency will be trapped between the moving average lines if its price stays above the 50-day SMA. DOGE will move back and forth between the moving average lines.

When the moving average lines are breached, the altcoin will trend. The DOGE/USD exchange rate is $0.090 at the time of writing.

Dogecoin Is Stuck in a Range as Suppliers Threaten to Short
DOGE/USD – Daily Chart

Dogecoin (DOGE) Indicator Reading
DOGE is caught between the moving average lines, causing the altcoin to fluctuate. The price of DOGE is trading slightly higher due to the presence of Doji candlesticks. The price bars on the 4-hour chart are below the moving average lines, indicating a likely fall.

What is the next direction for Dogecoin (DOGE)?
DOGE is declining, with a target price of $0.075 as suppliers threaten to short. The negative momentum will be reversed if the decline holds above the 50-day SMA. The altcoin is trading in a range of $0.088 and $0.096 on the 4-hour chart. DOGE is projected to fall even more.

Dogecoin Is Stuck in a Range as Suppliers Threaten to Short
DOGE/USD – 4 Hour Chart

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 

  • 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