The DOGE/USD Pair’s Potential Highs
The DOGE/USD pair has the potential to reach highs of $0.11 and $0.13 due to its current uptrend. However, the overbought condition may hinder the continuation of this upward movement.
Long-term Dogecoin Price Forecast: Bullish
The price of Dogecoin (DOGE) has been rising, with two retracements below and above the 21-day SMA. Although the uptrend was broken on December 6, DOGE has pulled back above the 21-day simple moving average and resumed its upward movement. Yesterday, it reached a high of $0.1028 and is approaching the $0.1063 barrier. If this resistance level is broken, the uptrend will continue.
Dogecoin Indicator Display
The price bars of DOGE are cautiously above the 21-day SMA as it rises. On December 6, the price bar reached the resistance level but slipped above the 21-day SMA support. As long as this support holds, the uptrend will continue.
Technical Indicators
Key resistance levels for DOGE are $0.12 and $0.14, while key support levels are $0.06 and $0.04.
What’s Next for Dogecoin?
Although DOGE’s rise has stalled below resistance at $0.1050, it is expected to break through this level soon. Buyers have been back above the 21-day SMA for the past three days, targeting the barrier at $0.1050 once again. Based on price indications, DOGE is likely to continue its upward movement.
Hot Take: Dogecoin’s Uptrend and Potential Highs
The DOGE/USD pair is currently in an uptrend and has the potential to reach highs of $0.11 and $0.13. However, the overbought condition may hinder further upward movement. Despite a brief break in the uptrend, Dogecoin has resumed its rise and is approaching a key resistance level. Technical indicators suggest that DOGE will continue its upward movement.
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