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Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin’s (DOGE) price has remained firm above the $0.060 support as traders express dissatisfaction. The presence of Doji candlesticks is responsible for the delayed price movement. Doji candlesticks show traders’ disinterest in the market’s direction.
At the time of writing, DOGE/USD is trading at $0.061. The coin’s price is restricted between $0.060 and $0.063. The market’s direction is unknown because the price can go in either direction. If DOGE rebounds above the $0.061 support, it will rise above the moving average.
The bullish trend will continue to the high of $0.070. However, if DOGE breaks down, the $0.060 support level will be breached. The altcoin will fall and find support above the $0.055 level.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
DOGE has maintained its position above the $0.060 support at level 39 of the Relative Strength Index for period 14. The price’s upward trajectory is hampered by the 21-day SMA barrier line. The cryptocurrency will decline if it is rejected at the barrier line.
The bullish momentum has stalled above the daily Stochastic threshold of 40.
What is the next direction for Dogecoin (DOGE)?
The cryptocurrency asset is trending horizontally below the moving average lines as traders express dissatisfaction. Doji candlesticks indicate that the altcoin will continue to move in a range. DOGE is currently dropping as it faces rejection at the $0.061 high.
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