Dogecoin Resumes Uptrend After November 17 Rally
The latest price analysis reveals that Dogecoin (DOGE) has started a new uptrend following the end of the November 17 rally. Last week, DOGE traded between $0.070 and $0.082, and on November 22, buyers pushed the cryptocurrency above the 21-day simple moving average, continuing the upward trend.
Dogecoin Price Long Term Forecast: Bullish
The price of DOGE was rejected after reaching a high of $0.080. However, if the resistance at $0.080 is broken, DOGE is expected to rise to the highs of $0.090 and $0.10. On the other hand, if the value of DOGE falls and trades between $0.070 and $0.080, it will invalidate the bullish scenario.
Dogecoin Indicator Reading
Following the recent market rally, the price bars of DOGE have risen above the moving average lines. Currently, the price is above the moving average lines on the 4-hour chart.
Technical Indicators
Key resistance levels for DOGE are at $0.12 and $0.14, while key support levels are at $0.06 and $0.04.
What is the Next Direction for Dogecoin?
Dogecoin has returned to the uptrend zone and reached a high of $0.080. However, buyers have struggled to maintain positive momentum above this level. The cryptocurrency is currently bouncing below the current high in an attempt to break through it.
Hot Take: Dogecoin’s Uptrend Continues Despite Resistance
According to cryptocurrency analytics specialists, Dogecoin’s price has retraced above the 21-day simple moving average after hitting its last high on November 15. The altcoin has also surpassed a historical price level from July 14. Despite facing resistance at $0.080, DOGE’s uptrend remains intact.
By
By
By
By
By