The price of Dogecoin (DOGE), which is trading above the moving average lines, has continued its sideways trend.
Dogecoin price long-term prediction: ranging
DOGE has been trading sideways between the $0.20 support and below the $0.25 barrier since August 9, as Coinidol.com reported. On August 22, DOGE rallied and surpassed the moving average lines. The high of $0.24 marked the end of the upward trend.
The barrier at $0.25 has hindered the uptrend over the past month. As it fluctuates above the moving average lines, the price has been rejected. If the bears push the price below the moving average lines, DOGE will start selling again. Initially, the altcoin will drop to a low of $0.19. DODE is currently trading at $0.235.
DOGE price indicators analysis
DOGE price is trading above the horizontal moving average lines. The 21-day SMA is higher than the 50-day SMA, indicating an uptrend for the cryptocurrency. On the 4-hour chart, the 21-day SMA is below the 50-day SMA but is sloping upwards, indicating an uptrend.
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 price has continued to move sideways as buyers have not been able to push it above the $0.25 level.
On the 4-hour chart, the altcoin is trading above the $0.21 support but below the $0.25 resistance level. DOGE has risen above the moving average lines, but remains above the 50-day SMA support and below the high of $0.24. If the buyers succeed, the altcoin will rise above the $0.25 threshold.
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/doge-fluctuates-sideways/
