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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 is trading above the moving average lines as it attempts its bullish trajectory. Since July 23, the resistance at $0.074 has been restraining the upward movement of prices. The altcoin will constantly swing between $0.068 and $0.074 if it faces rejection at the recent high.
Dogecoin is currently trading above the moving average lines but below the resistance level. If buyers break over the resistance at $0.074, the crypto will restart its bullish trajectory. The altcoin will surge to a high of $0.095.
If the bulls fail to break through the current high, the cryptocurrency will fall. The altcoin will drop below the moving average lines when the market crashes to a low of $0.065 or $0.060.
Dogecoin (DOGE) Indicator Reading
At level 58 of the Relative Strength Index, DOGE is in the favorable trend zone for period 14. There are price bars with extended wicks above the moving average lines. Long wicks imply that there is a lot of selling pressure at higher price levels.
Dogecoin is in a bearish trend below the daily Stochastic threshold of 75.
What is the next direction for Dogecoin (DOGE)?
The resistance level of $0.074 is where DOGE is trapped during an upward correction as it attempts its bullish trajectory. The cryptocurrency price has been unable to surpass the most recent high for the past week.
The altcoin will drop to its prior low or be forced below the resistance level into a range-bound region.
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