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Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) is above the 21-day SMA but is stuck at $0.080. The market reached a high of $0.087 during the last rise but was rebuffed. Today, Dogecoin is resuming its upward trajectory, reaching a high of $0.078.
Buyers’ goal is to recapture the $0.080 price level and continue rising to its target price of $0.10. The uptrend advance, however, is anticipated to encounter resistance at $0.080 and $0.082. The current upward trend has come to an end at a high of $0.080.
If the bullish scenario is disproved, DOGE/USD will remain range-bound. The market will oscillate between $0.070 and $0.080.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
The price of DOGE was first trapped between the moving average lines before rising. The price bars are currently above the moving average lines, but they are being challenged by resistance at $0.080.
If DOGE is rejected at $0.080, it will return to its current price range. The moving average lines continue to slant upward, indicating an uptrend.
What is the next direction for Dogecoin (DOGE)?
Following the latest rally, Dogecoin has returned to the positive trend zone but is stuck at $0.080. The upward trend is being met with resistance at the high of $0.080. The coin is currently trading between $0.070 and $0.080.
The current rise has reached a resistance level of $0.080 and may decline.
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