The price of Dogecoin (DOGE) has recently surged and reached a high of $0.087. This article analyzes the long-term prediction for DOGE and examines its current price movements.
Dogecoin Price Long Term Prediction: Bullish
The cryptocurrency has retraced above the 21-day SMA and surpassed the historical price level of July 14. Although it is still trading below the $0.09 resistance level, the current bullish momentum could push DOGE higher. If buyers manage to break through the $0.09 level, DOGE could rise to a high of $0.10. However, if it fails to break above the recent high, the cryptocurrency may fall and remain in a range between $0.072 and $0.090.
Dogecoin Indicator Reading
The price bars have consistently been above the moving average lines, indicating strong buying at lower price levels. As the altcoin approaches the overbought zone, its price has continued to rise.
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 (DOGE)?
DOGE is currently in overbought territory and aims to reach a high of $0.10. As long as the price bars remain above the moving average lines, the cryptocurrency’s price will continue to rise.
Last week, it was reported that DOGE was reaching a high of $0.080 and had the potential to reach $0.10 if buyers broke above the $0.080 level.
Hot Take: Dogecoin’s Bullish Momentum Continues
The price of Dogecoin (DOGE) has surged to $0.087 and is showing signs of bullish momentum. With the altcoin surpassing historical price levels and consistently trading above moving average lines, it has the potential to reach a high of $0.10. However, DOGE is currently in overbought territory, which may lead to a price correction. It will be crucial for buyers to break through the $0.09 resistance level for DOGE to continue its upward trend. Overall, Dogecoin’s future direction looks positive as long as it maintains its current buying momentum.
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