Dogecoin (DOGE) Price Long-term Prediction: Bearish
The price of Dogecoin (DOGE) halts at the $0.40 barrier as it drops below the moving average lines for the second time. DOGE fell as low as $0.26 on December 20, 2024, but the bulls purchased the dips. The altcoin started its upward trajectory after recovering above the $0.30 level. Although they were unable to break through the resistance at $0.40, buyers managed to keep the price above the moving average lines.
The altcoin has been driven back to the current support level at $0.30 by the bears today. The price of DOGE is now range-bound between $0.30 and $0.40. On the downside, the altcoin will return to its previous low of $0.26 if the bear’s breach occurs below the $0.30 support. If buyers are able to break through the barrier at $0.40, DOGE will restore its positive momentum. The current value of DOGE is $0.33.
Technical indicators
Major Resistance Levels $0.45 and $0.50
Major Support Levels – $0.30 and $0.25
Dogecoin (DOGE) Indicator Reading
The price bars remain below the moving average lines even if the selling pressure has reached bearish exhaustion. The moving average lines have a bearish crossover and are sloping downward. The bearish indication is indicated by the 21-day SMA being below the 50-day SMA. Bearish weariness has been reached by the market.
What is the next direction for Dogecoin (DOGE)?
On the 4-hour chart, DOGE halts at the $0.40 barrier as it declines below the moving average lines. The altcoin is going back to the $0.30 support level. The crypto price has been oscillating below and above the moving average lines since the rebound on December 20, 2024. The resistance level at $0.40 has blocked the upward rise three times. The crypto signal is currently range-bound since it is trading above the $0.30 support.
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