The Price of Dogecoin (DOGE) Soars Above the 21-day SMA
After a recent rally, the price of Dogecoin (DOGE) has surged above the 21-day SMA, indicating bullish momentum in the market.
Long-term Forecast for the Dogecoin Price: Bullish 🚀
The price of DOGE fell below the 21-day SMA on March 19, hitting a low of $0.12. However, strong buying at lower levels has pushed the altcoin above the moving average lines, returning it to its previous high. Currently, DOGE is trading at $18.36, with the potential to rise further if it breaks through the resistance level of $19.
Dogecoin Indicator Reading 📈
The DOGE price bars have crossed above the 21-day SMA, indicating the possibility of further gains. Despite facing resistance at $0.19, the moving average lines continue to trend upwards.
Technical Indicators 📊
- Key resistance levels – $0.12 and $0.14
- Key support levels – $0.06 and $0.04
What’s Next for Dogecoin? 🐶
DOGE/USD has been trading sideways since the uptrend ended on March 5, fluctuating between $0.12 and $0.19. The cryptocurrency is expected to resume its upward momentum once it breaks through the resistance at $0.19.
Hot Take: Dogecoin Set to Rally Higher 🚀
The recent surge in the price of Dogecoin above the 21-day SMA indicates a bullish trend in the market, with the potential for further gains if key resistance levels are overcome. With strong buying momentum and positive technical indicators, DOGE is poised to rally higher in the coming days.
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