The Dogecoin price reached a low of $0.1518 on November 4 after falling below the 21-day SMA barrier. If the negative momentum continues, DOGE may fall to lows of $0.14 to $0.10.
Dogecoin price long-term prediction: bearish
However, bulls have bought the dips as the cryptocurrency corrects higher. If DOGE rises above the moving average lines, it could reach a high of $0.21. Buyers have not surpassed the 21-day SMA barrier since the price drop on October 10, as reported by Coinidol.com.. Currently, the cryptocurrency is trading above the $0.15 support level but remains below the 21-day moving average lines. At the time of writing, DOGE is trading at $0.1765.
Technical indicators
Dogecoin price indicators reading
The moving average lines are sloping downward, with the 21-day SMA acting as the resistance line for the price bars. The price bars are characterised by modest, indecisive candlesticks, resulting in continued range-bound movement. On the 4-hour chart, DOGE price bars are above the downward-sloping moving average lines.
What is the next direction for Dogecoin?
DOGE’s price has remained above the $0.15 support level since 4 November. The cryptocurrency is oscillating between the $0.15 support level and the $0.19 barrier. The price is rising, preparing to retest or break the next barrier. If DOGE breaks above the 21-day SMA level, or $0.19 on the daily chart, it will resume its bullish trend.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.