Dogecoin Rebounds as It Holds above the $0.069 Support

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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 now rising as it holds above the $0.069 support. Price breached the nearby support level at $0.07, extending the bearish momentum. Yesterday, DOGE hit a low of $0.069 as bulls bought the dips. If the price moves past the $0.07 support, the upward trend will resume. DOGE is currently rising to retest the resistance at the most recent high. On the plus side, if buyers are successful in keeping the price above the moving average lines or the resistance level at $0.10, the market will rise to its previous highs. The current price of one Dogecoin is $0.07 at this time.

Dogecoin Rebounds as It Holds above the $0.069 Support.
DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE is at Relative Strength Index Period 14 level 36. Despite the upward correction, the cryptocurrency asset remains in a bearish trend zone. The price bars are below the moving average, indicating that the crypto may fall.

DOGE/USD Medium-term bias: Bearish
On the 4 -hour Chart, DOGE is in a smooth downtrend. The crypto’s price is making a series of lower highs and lower lows. The drop has found support above $0.07. The previous low was on November 21. The current support was held in November as the cryptocurrency resumed its upward trend.

Dogecoin Rebounds as It Holds above the $0.069 Support.
DOGE/USD – 4 Hour Chart

4-hour Chart Indicators Reading
For DOGE, the daily stochastic is below level 40. The coin may decline because it is in a bearish trend zone. The downtrend is indicated by the 50-day and 21-day SMA lines’ southward sloping directions.

General Outlook for Dogecoin
Dogecoin has regained bullish momentum as it holds above the $0.069 support. The altcoin will be compelled to a range-bound move between levels $0.07 and $0.11.


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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.