The price of Dogecoin (DOGE) has dropped to $0.188 level
Dogecoin has every opportunity to test the $0.23 resistance zone for the fourth time, with the potential to reach a high of $0.30 if the resistance is broken. The current range between the 21-day SMA and the $0.23 high will hold if DOGE fails to surpass the recent high.
Dogecoin price long-term forecast: bullish
โ The price bars have returned above the moving average lines, indicating an uptrend.
โ The moving average lines are sloping upwards, supporting the bullish trend.
โ On the 4-hour chart, the moving average lines are horizontal, suggesting a sideways movement.
โ The current uptrend is expected to continue if the $0.23 resistance is breached.
Technical indicators
โ Key resistance levels: $0.12 and $0.14
โ Key support levels: $0.06 and $0.04
Dogecoin indicator reading
In a sideways trend, DOGE is currently trading below the $0.23 resistance level, despite efforts by buyers to surpass it. The coin is above the 21-day SMA but below the resistance at $0.23, hinting at an upcoming uptrend.
What is the next direction for Dogecoin?
DOGEโs current sideways trend could shift if it breaks the $0.23 resistance level. Trading above the 21-day SMA, DOGE is indicating an uptrend in the near future.
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