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
The price of Dogecoin (DOGE) has surpassed the moving average lines as it battles the resistance at $0.085. The coin is likely to reach its previous high of $0.10 thanks to buyers. Since DOGE is currently trading in the bullish trend zone, it will rise. The high of $0.085 will present resistance to the current bullish trend. If the initial resistance is overcome, Dogecoin will rise until it reaches its previous high of $0.10. On the other hand, if DOGE is unable to overcome the initial resistance at $0.085, it will fall. Over the moving average lines, the altcoin will retrace. If price breaks below the moving average lines, the decline will resume.
Dogecoin (DOGE) Indicator Reading
On the Relative Strength Index for period 14, Dogecoin is at level 51. Due to a balance between supply and demand, the price of Dogecoin has reached its maximum level. The moving average lines are above the price bars, which will cause DOGE to increase. The oversold area of the market is where DOGE has been trading. It has fallen below the daily Stochastic level of 20.
What is the next direction for Dogecoin (DOGE)?
DOGE’s price is above the moving average lines as it battles the resistance at $0.085. The upward movement will quicken if buyers can overcome the $0.85 resistance. The risks associated with cryptocurrencies rise if the price falls below the moving average lines.
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