DOGE Retests the $0.080 Historical Price Level

Dogecoin’s price has dropped and retested its low of $0.080.

DOGE price long-term prediction: bearish

Bulls, however, took advantage of the dips and pushed the price above the $0.10 support. DOGE has returned to its range, trading above the $0.090 support but below the moving average lines. In recent price action, DOGE rallied and bounced above the $0.090 support, breaking above the moving average lines.

Now, the DOGE price is correcting upwards near the moving average lines. On the upside, DOGE will resume its bullish trend if buyers sustain the price above the moving averages. The cryptocurrency is currently at $0.098.

Technical indicators

Dogecoin price indicators reading

The price bars have reached the bottom of the chart, while the moving average lines continue their downward trend. A long candlestick tail crosses the $0.080 support, indicating strong buying above this level. The moving average lines have dropped sharply, approaching the $0.10 support.

What is the next direction for Dogecoin?

DOGE’s price has fallen to a low of $0.080, but bulls have bought the dips, leading to an upward correction. The 4-hour chart shows DOGE above the $0.085 support and below the moving average lines. The upward correction was halted by the 21-day SMA barrier. If DOGE fails to overcome the 21-day SMA barrier, it will return to the $0.080 support level.

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.