Dogecoin (DOGE) Price Analysis
Dogecoin (DOGE) price has broken above the $0.075 barrier and resumed its uptrend, reaching a high of $0.080 at the time of writing. The altcoin is likely to encounter further resistance as it approaches the desired price level and will reach the target price of $0.086.
The next possible high for Dogecoin is $0.10 if buyers break above the $0.080 level, but the current uptrend would reverse if the bears break below the 21-day SMA or support at $0.069, forcing the altcoin to fall further to a low of $0.063.
Dogecoin Indicator Reading
On November 9, Dogecoin quickly fell below the 21-day SMA but recovered, suggesting strong buying pressure at lower prices. The current uptrend will be interrupted if the price bars fall below the moving average lines.
Technical Indicators
Key resistance levels – $0.12 and $0.14
Key support levels – $0.06 and $0.04
What’s Next for Dogecoin?
Dogecoin is currently struggling to break the barrier at $0.08 and is trading in the overbought zone of the market. If sellers emerge in this zone, the uptrend is likely to face strong resistance.
Hot Take: Bullish Trend Continues for Dogecoin
Despite encountering resistance at higher price points, Dogecoin’s bullish trend continues, with potential highs of $0.10 if buyers break above the current level of $0.080.
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