Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) price has retraced above the 21-day (SMA) by remaining above $0.090. The altcoin has retraced to a low of $0.092 before resuming its upward trend. The uptrend has been halted at the high of $0.1063 since December 6.
The coin has been declining over the last week as it approaches support above $0.092. If the current resistance is broken, buyers will keep the price above the high of $0.1050. The upward momentum will continue until the price reaches $0.13.
Similarly, the price indicator predicts that the coin will hit a high of level 1.618 Fibonacci extension or $0.1286. There will be further selling pressure if the altcoin reverses course and crosses below the 21-day SMA. The altcoin will fall to the 50-day SMA support or a low of $0.080.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
The crypto asset remains in a positive trend zone, with price bars above the 21-day SMA. The 21-day SMA provides support for the cryptocurrency’s upward movement. The moving average line shows that the uptrend is still going strong as they slope upward.
What is the next direction for Dogecoin (DOGE)?
The altcoin has maintained its sideways move between $0.090 and $0.105 by remaining above $0.090. The sideways move will continue as it reaches the overbought region of the market. The upward movement of the cryptocurrency is further restricted at the high of $0.097.
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