Dogecoin Retraces as It Revisits the $0.070 Support

Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04

Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) price rises and surpasses the moving average lines as it revisits the $0.070 support . DOGE rose to a high of $0.085 today before declining. If the price bounces back above the moving average lines, the crypto asset will maintain its positive trend. The altcoin will rise to a peak of $0.10 in the future. Nevertheless, given that the market is getting close to overbought territory, further price gains are doubtful. As this is happening, DOGE has fallen above the moving average lines. As the fall approaches the oversold area, it is expected to slow down.

Dogecoin (DOGE) Indicator Reading
In the Relative Strength Index for period 14, Dogecoin is at level 54, which is in the bullish trend zone. Dogecoin still has space to expand. As long as the price bars are above the moving average lines, the asset’s worth in cryptocurrencies is rising. It surpasses the daily stochastic’s level of 80.

What is the next direction for Dogecoin (DOGE)?
Dogecoin is on an uptrend as it revisits the $0.070 support. Despite being at $0.08, the DOGE price remains above the moving average line. For now, the upward movement is being slowed by the overbought condition. After retracing, the market is consolidating above the recent support.

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