DOGE Rises but Fails to Surpass the $0.10 Barrier

Dogecoin’s price has remained range-bound above the $0.086 support but has been unable to break above the 21-day SMA.

DOGE price long-term prediction: ranging

The bulls have crossed above the 21-day SMA barrier four times but have subsequently fallen sharply below it. Currently, buyers are attempting to sustain the price above the 21-day SMA.

On the upside, DOGE is likely to reach a high of $0.12 if buyers keep the price above the 50-day SMA barrier. However, if the cryptocurrency price falls below the 21-day SMA, it will approach the lows of $0.080 and $0.060. Today, DOGE is valued at $0.0946.

Technical indicators

Dogecoin indicator reading

The crypto price is below the horizontal moving average lines. There are long candlestick wicks piercing the 21-day SMA, indicating strong selling pressure at recent highs. On the 4-hour chart, the crypto price is above the horizontal moving average lines, but the upward trend has stalled at $0.095.

What is the next direction for Dogecoin?

DOGE’s price has remained above the $0.090 support since 10 March. On the 4-hour chart, the cryptocurrency price is trading above the moving average lines but below the $0.10 high. In previous price action, buyers were unable to maintain bullish momentum above the $0.10 high. Today, the cryptocurrency price is rising as it attempts to break through the $0.10 barrier.

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.