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Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin’s (DOGE) price is now moving horizontally as it stabilizes above $0.063. Dogecoin price action has been dominated by Doji candlesticks since the price decline on August 31. The crypto asset dropped to a low of $0.0630 and has since been stationary above the level of support.
The candlesticks reveal the trader’s lack of interest in the market’s direction. On the plus side, the 21-day SMA resists DOGE’s ascent. The coin will rise if DOGE rebounds. Bullish momentum will break over the $0.065 resistance and the 21-day SMA.
After that, DOGE will increase to its prior high of $0.070. The market will restart its range-bound ascent above the $0.063 support if the bullish momentum is lost. DOGE/USD is currently trading at $0.0638 at the time of writing.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
For period 14, the DOGE price has remained stable at level 42 on the Relative Strength Index. The coin is in a bearish trend and may continue to fall. The moving average lines and the price bars are both horizontally flat.
It suggests that the market is fluctuating. The altcoin is on a bullish trend that has slowed over the daily Stochastic mark of 60.
What is the next direction for Dogecoin (DOGE)?
Since August 31, the price movement has been flat as it stabilizes above $0.063. The market has remained in a range. As long as the Doji candlesticks exist, the sideways movement will continue. The current range-bound action may lead to a price rebound because the market has been oversold.
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