Dogecoin (DOGE) Price Long-term Prediction: Bullish
Dogecoin’s (DOGE) price has continued its upward trend above the 21-day SMA as it resumes its ascent. On April 3, the bulls halted the drop above the 21-day SMA and began a new ascending trend. DOGE surged to a high of $0.2286 on the March 28 upswing, but was met with resistance.
On April 1, DOGE plummeted after retesting the resistance level of $0.2286. Today, DOGE is valued at $0.18 as it begins a bullish advance above the moving average lines. The cryptocurrency is rising to retest the barrier level at $0.2286. DOGE/USD will reach highs of $0.32 and $0.38 if the current resistance is broken.
If the current resistance is not overcome, the range-bound move between the 21-day SMA and $0.22 will continue.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
DOGE’s price bars are currently above the 21-day SMA following the recent fall. The cryptocurrency is increasing as support holds. However, the present upswing may come to an end if the bears break below the 21-day SMA support. Nonetheless, the DOGE price is expected to vary because it is caught between the moving average lines.
What is the next direction for Dogecoin (DOGE)?
On the 4-hour chart, DOGE is declining below the moving average lines as it resumes its ascent. The cryptocurrency price retested and found support above the $0.17 level. The current support holds as DOGE resumes its ascent.
The cryptocurrency signal is favorable, as DOGE’s price breaks above the 21-day SMA on the 4-hour chart.
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