The price of Dogecoin (DOGE) is under threat as it has failed twice at the $0.1063 resistance level. Price analysis by Coinidol.com.
Dogecoin price long-term forecast: bullish
The altcoin has also fallen above the moving average lines twice. The uptrend continues to be held back by the high of $0.098. DOGE is trading at the $0.094 support at the time of writing. The cryptocurrency is steadily approaching the critical support level. Should the price fall below the $0.090 support or the 21-day simple moving average, selling pressure on DOGE will increase again. The initial decline will be above the 50-day simple moving average (SMA) or the low at $0.080.
Dogecoin indicator reading
DOGE’s price bounces twice above the 21-day SMA support as the bears retest the moving average lines. The recent downturn has forced the altcoin’s price bars to fall below the moving average lines on the 4-hour chart. DOGE is in an uptrend as long as the price bars are above the descending moving average lines.
Technical indicators
Key resistance levels – $0.12 and $0.14
Key support levels – $0.06 and $0.04
What is the next direction for Dogecoin?
DOGE is trading between $0.090 and $0.1050 on the 4-hour chart. The rally has come to an end at the recent high. Buyers were not able to sustain the positive momentum above the recent high. The recent high is a historical price level from April 3rd.
As reported by Coinidol.com last week, the uptrend was broken on December 6 after reaching a high of $0.1063. DOGE has pulled back above the 21-day simple moving average and resumed its uptrend.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://coinidol.com/doge-price-bounces-twice-above-0-090-and-resumes-its-ascent/
- :has
- :is
- :not
- 06
- 07
- 10
- 12
- 16
- 17
- 2023
- 3rd
- 900
- a
- Able
- above
- After
- again
- also
- Altcoin
- an
- analysis
- and
- approaching
- April
- ARE
- AS
- ascent
- At
- author
- average
- back
- bars
- BE
- Bears
- before
- below
- between
- Broken
- buy
- buyers
- by
- Chart
- COM
- come
- continues
- critical
- cryptocurrency
- daily
- Decline
- direction
- do
- Doge
- Doge price
- Dogecoin
- Dogecoin (DOGE)
- DOWNTURN
- end
- Endorsement..
- Failed
- Fall
- Fallen
- For
- Forecast
- from
- funds
- Held
- High
- historical
- HTTPS
- in
- Increase
- Indicator
- info
- initial
- investing
- IT
- ITS
- jpg
- Last
- Level
- levels
- lines
- Long
- long-term
- Low
- Momentum
- moving
- moving average
- next
- of
- on
- Opinions
- or
- personal
- plato
- Plato Data Intelligence
- PlatoData
- positive
- pressure
- price
- Price Analysis
- rally
- reaching
- readers
- recent
- Recommendation
- Reported
- research
- Resistance
- s
- sell
- Selling
- should
- Simple
- SMA
- steadily
- support
- support level
- support levels
- The
- their
- this
- threat
- time
- to
- Trading
- Twice
- under
- uptrend
- was
- week
- were
- What
- What is
- will
- writing
- zephyrnet