Dogecoin Struggles below $0.061 As It Trades in a Limited Range
Login

Dogecoin Struggles below $0.061 As It Trades in a Limited Range

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin’s (DOGE) price has recovered after plunging to a low of $0.056 as it trades in a limited range. The cryptocurrency saw an upward reversal after breaking above the moving average lines. The altcoin reached a high of $0.062 before being resisted.

DOGE/USD is now trading below the moving average lines. At the time of writing, it was trading at $0.059. The rising movement has been constrained by moving average lines or resistance at $0.061. The cryptocurrency is now trading in a small range between $0.058 and $0.061.

If the bears breach the present support level of $0.058, selling pressure will resume. DOGE will fall and retest its prior low of $0.055.

Dogecoin Struggles below $0.061 As It Trades in a Limited Range
DOGE/USD – Daily Chart

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

Dogecoin (DOGE) Indicator Reading
The price bars are always lower than the moving average lines, causing the cryptocurrency to fall or move sideways. This is because the 21-day and 50-day SMAs operate as resistance lines to the cryptocurrency. The bulls haven’t broken above the moving average lines since the slump started.

What is the next direction for Dogecoin (DOGE)?
Dogecoin has kept falling since losing the $0.060 support as it trades in a limited range. The coin has dropped to the bottom of the chart, forming a new price range. DOGE will be forced to trade between the price levels of $0.058 and $0.061. When these levels are breached, the altcoin will trend.

Dogecoin Struggles below $0.061 As It Trades in a Limited Range
DOGE/USD – 4-Hour Chart

You can purchase crypto coins here. Buy LBLOCK

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News