Dogecoin (DOGE) Price Long-term Prediction: Bearish
Dogecoin (DOGE) is correcting upward while maintaining its range. DOGE fell to the oversold region before rising above the $0.10 support. According to the price indicators, the altcoin will fall but reverse above the $0.10 support. On the daily chart, buyers held the price above the moving average lines.
However, the bullish momentum was halted by the 50-day SMA or the resistance at $0.115. If buyers break above the 50-day SMA resistance, the altcoin will rise to $0.13. On the downside, DOGE has retraced the moving average lines. If the 21-day SMA is breached, the altcoin will fall to its current support price of $0.10.
In addition, DOGE is likely to remain trapped between the moving average lines for a few days.
Technical indicators
Major Resistance Levels – $0.12 and $0.14
Major Support Levels – $0.06 and $0.04
Dogecoin (DOGE) Indicator Reading
The digital asset will swing between the moving averages if they are not broken. DOGE will begin its range-bound move while the price bars are caught between the moving average lines. The downward-sloping moving average lines make a U-turn, signaling a trend reversal.
What is the next direction for Dogecoin (DOGE)?
DOGE’s selling pressure has achieved bearish exhaustion while maintaining its range. On the daily chart, the price has stalled above the $0.10 support. In other words, DOGE is currently trading between the moving average lines. In the meantime, the range of the crypto signal is constrained by the altcoin, which is situated between the moving average lines.
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