Dogecoin Trades in a Range as It Strives to Break the $0.070 Mark

Azeez Mustapha

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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) is trading in a bullish trend zone as it strives to break the $0.070 mark. Buyers tried again but failed to keep the price above the moving average lines. Dogecoin is currently trapped between the moving average lines.

Similarly, the cryptocurrency’s price is constrained to a range of $0.060 to $0.070. If the resistance at $0.070 or the 50-day SMA is broken, DOGE will surge to the highs of $0.080 and $0.090. DOGEUSD, on the other hand, will resume its decline if the bears break below the 21-day SMA.

The market will drop to a low of $0.06 or $0.05 if the current support is breached.

Dogecoin (DOGE) Indicator Reading
DOGE is at Relative Strength Index level 53 for period 14. The cryptocurrency is probably going to increase because it is in a favorable trend. The altcoin tends to restart a sideways trend because it is pinned between the moving average lines.The bullish momentum has stalled above the daily Stochastic threshold of 40.

Dogecoin Trades in a Range as It Strives to Break the $0.070 Mark
DOGE/USD – Daily Chart

What is the next direction for Dogecoin (DOGE)?
DOGE/USD is currently stuck in a range as it strives to break the $0.070 mark. While pinned between the moving average lines, the coin will be forced to move in a range-bound pattern. When the moving average lines are broken, the altcoin will trend.

Dogecoin Trades in a Range as It Strives to Break the $0.070 Mark
DOGE/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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