DOGE Continues Its Slide to $0.095

Dogecoin’s price has fallen below the moving average lines and the $0.12 barrier, suggesting the altcoin is likely to decline further.

DOGE price long-term prediction: bearish

In the most recent price action, buyers pushed the price above the moving average lines, resuming its bullish ascent.

However, bullish momentum was halted twice by resistance at $0.15. Today, DOGE has dropped to a low of $0.10. On the downside, bearish momentum is expected to maintain the October 10 price level of $0.083. The altcoin is currently at $0.1059.

Technical indicators

Dogecoin price indicators reading

The price bars have fallen below the downward-sloping moving average lines. The 21-day SMA is below the 50-day SMA, indicating a decline. On the 4-hour chart, both the 21-day and 50-day SMAs are sloping downward. The long candlestick tail at the $0.095 support level indicates significant buying demand at lower price levels.

What is the next direction for Dogecoin?

Following the $0.12 high, the DOGE price has begun to fall. On the 4-hour chart, the DOGE price dropped to a low of $0.095 before recovering. DOGE is now range-bound, trading above the $0.095 support but below the moving average lines. The retraced price is currently beginning its downward movement towards the existing support at $0.095.

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.