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Dogecoin (DOGE) Price Long-term Prediction: Bullish
The price of Dogecoin (DOGE) has risen steadily since December 6th as it moves toward the goal price. On December 6, the altcoin reached a high of $0.1063 but was repelled. Nonetheless, DOGE was rejected again at its previous high on December 9.
Bulls will buy dips when buyers recoup above the moving average lines. Furthermore, the price signal has revealed that if the current resistance level is breached, DOGE will rise to a high of $0.13. In the meantime, DOGE/USD will be trading at $0.1063, above the moving average lines but below the resistance.
The altcoin will fall above the 50-day SMA, or $0.076 if the bears break below the 21-day SMA.
Dogecoin (DOGE) Indicator Reading
On the 4-hour chart, DOGE twice retraced above the 21-day SMA as bulls purchased the dips. The altcoin will experience additional selling pressure if the bears are successful in pushing it below the 21-day SMA. That would have stopped the current trend.
The cryptocurrency asset is expected to increase as long as the price stays above the moving average lines.
What is the next direction for Dogecoin (DOGE)?
The DOGE/USD pair is increasing as it moves toward the goal price. Since December 6, the price of DOGE/USD has fluctuated between $0.0950 and $0.1050. The altcoin is rising above the $0.0950 support level, or the 21-day SMA.
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