Dogecoin’s Upswing Faces Rejection as It Remains Above $0.15
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Dogecoin’s Upswing Faces Rejection as It Remains Above $0.15

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Azeez Mustapha

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Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin (DOGE) is now trading above the moving average lines once more as it remains above $0.15. On February 26, the price of the cryptocurrency burst through the barrier between $0.09 and $0.10, and on March 4, it hit a high of $0.18.

The positive momentum persisted today, although it encountered resistance at $0.20. The altcoin has ended its current upward momentum after plunging drastically to a low of $0.1244, from which it recovered. The altcoin is currently valued at $0.1372.

The present downward retracement has stopped above the $0.13 support level. Assuming the current support holds, the bullish ascent will continue. If the present support is broken, the market will drop down to a low of $0.10 or $0.090.

Dogecoin’s Upswing Faces Rejection as It Remains Above $0.15
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 still above the moving average lines despite the recent decrease. The increasing slope of the horizontal moving average lines indicates an uptrend. The price of the cryptocurrency has currently dropped between the moving average lines. This suggests that the coin may move within a range.

What is the next direction for Dogecoin (DOGE)?
DOGE’s uptrend has come to an end as it remains above $0.15 on the 4-hour chart. In other words, the altcoin will be forced to trade inside a narrow band of $0.13 to $0.16 for a few days. When the altcoin breaks above the $0.16 resistance level, it will restart its upward trajectory.

In the same way, DOGE will fall if it loses its $0.13 support. In a word, the crypto signal will be limited in range because the altcoin has been trapped.

Dogecoin’s Upswing Faces Rejection as It Remains Above $0.15
DOGE/USD – 4 Hour Chart

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