Dogecoin Reaches The $0.1063 Level And Gets Closer To Its Target

The DOGE/USD pair is likely to reach highs of $0.11 and $0.13 given the current uptrend.

Beyond that, the overbought condition will hinder the continuation of the uptrend. More details in this cryptocurrency analysis by Coinidol.com.

Long-term Dogecoin price forecast: bullish

The price of Dogecoin (DOGE) has been rising despite two retracements below and above the 21-day SMA. 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.

Yesterday, the altcoin reached a high of $0.1028 as it approaches the $0.1063 barrier. If the current resistance level is broken, the uptrend will resume.

Dogecoin indicator display

The price bars are cautiously above the 21-day SMA as DOGE rises.

The price bar reached the resistance level on December 6, but slipped above the 21-day SMA support. The uptrend will continue as long as the 21-day SMA support holds.

Technical indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

What’s next for Dogecoin?

DOGE’s rise continues but has stalled below resistance at $0.1050. The current resistance level is expected to be broken by the upswing. Buyers have been back above the 21-day SMA for the past three days while targeting the barrier at $0.1050 again. According to the price indications, DOGE will continue 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.

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• Source: https://coinidol.com/dogecoin-reaches-closer/