Dogecoin Continues to Oscillate Below $0.10

The Dogecoin price has continued to rise as it approaches the $0.10 barrier.

DOGE Price Long-term Prediction: Bullish

Buyers have worked hard over the past week to keep the price above the moving average lines as it nears the $0.10 level.

On April 16, as Coinidol.com reported previously, buyers were unable to sustain the bullish momentum above the current high, resulting in a decline above the moving average lines. DOGE is still rising, approaching the $0.10 high.

However, bullish momentum has broken through the $0.10 level four times, but buyers have failed to sustain the positive trend.

Today, if buyers succeed, the altcoin could rise to a high of $0.125. Dogecoin will continue trading above the moving average lines if bullish momentum is disrupted. As of this writing, DOGE is at $0.098.

Technical indicators

Dogecoin Indicator Reading

DOGE is now trading above the horizontal moving average lines. The 21-day SMA has moved above the 50-day SMA, confirming the current bullish trend. On April 17, the long candlestick wick indicates significant selling pressure near the $0.10 level. On the 4-hour chart, the moving average lines are sloping upwards and the price bars continue to rise above them.

What Is the Next Direction for DOGE?

DOGE’s price has risen above the moving average lines following its rejection at the $0.10 high. Currently, price movement is confined above the moving average lines but below the $0.099 high. DOGE has been repelled twice while trading below $0.099. high. If altcoin prices fall from their recent highs, they risk falling below the moving average lines.

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.