Dogecoin (DOGE) has been fluctuating since the price dip on March 10.
DOGE started a sideways movement above the $0.14 support and below the $0.20 resistance or moving average lines. The altcoin plunged to a low of $0.143. Buyers were unable to sustain the uptrend after breaking above the 21-day SMA.
DOGE price long-term prediction: bearish
The price of the cryptocurrency has stalled above the $0.14 support on the downside. If the current support at $0.14 is breached, selling pressure will return. The price indicator predicts that DOGE will fall to the low of $0.048 or the 2.0 Fibonacci extension. At the time of writing, DOGE is worth $0.156.
Dogecoin indicator reading
The price bars on the daily chart are below the moving average lines. However, as DOGE continues to fall, the price of the cryptocurrency is rejected at the 21-day SMA. The price bars on the weekly chart are below the horizontal moving average lines. The price action has been delayed by the Doji candlesticks.
Technical indicators
Key Resistance Levels $0.45 and $0.50
Key Support Levels – $0.30 and $0.25
What is the next direction for Dogecoin?
DOGE’s price is rejected at the 21-day SMA barrier, while it has stalled above the $0.14 support. The cryptocurrency is in a narrow range at the bottom of the chart. The price action has remained stable due to doji candles, which are small, indecisive candles. DOGE will fall once it breaks through the $0.14 support.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.
Source: https://coinidol.com/dogecoin-key-support-level/