Dogecoin Risks Additional Loss as It Slips below Support at $0.075

Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) price has fallen below the 21-day simple moving average as it slips below support at $0.075. The coin is trading below the 21-day simple moving average but above the 50-day simple moving average. The latest slump has ended the uptrend that had been in place.

The bearish momentum will extend to the 50-day simple moving average. If DOGE retraces and finds support above the 50-day SMA, the altcoin will be forced to trade in a range. In other words, the cryptocurrency’s price will range between $0.070 and $0.085.

The cryptocurrency asset would go even further to its previous low of 0.060 if the price drops below the moving average lines. Meanwhile, DOGE is sliding to a low above the 50-day simple moving average.

Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
DOGE is falling as it approaches Relative Strength Index level 51 for period 14. Demand and supply have achieved a point of equilibrium at the equilibrium price level. If the current slide continues, DOGE will enter the bearish trend zone.

As it approaches level 25 of the daily Stochastic, the coin gains bearish momentum.

What is the next direction for Dogecoin (DOGE)?
The current uptrend is no longer viable as it slips below support at $0.075. DOGE will drop to a low of $0.066 before falling to a low of $0.060 if support above the 50-day SMA is lost.

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