DOGE Continues Its Range Below The $0.42 Barrier

The latest price analysis by Coinidol.com report, the price of Dogecoin (DOGE) is rising as it breaks above the 21-day SMA for the second time.

Dogecoin price long term forecast: in the range 

The altcoin reverses its recent decline and breaks above the moving average lines. Resistance at $0.42 has slowed the altcoin's upward movement and forced it to range. Nonetheless, the price of DOGE has settled between $0.35 and $0.45. Currently, the price of the cryptocurrency is trapped between the moving average lines. DOGE will rise or fall if the 21-day or 50-day SMAs are breached. 

Dogecoin indicator reading

The price of cryptocurrencies is fluctuating between the moving average lines after the recent recovery. The average lines are horizontal due to the sideways movement since December 20, 2024. DOGE will resume its uptrend once it breaks above the 50-day SMA.

Technical indicators

Key resistance levels $0.45 and $0.50

Key support levels – $0.30 and $0.25

What's next for Dogecoin?

On the 4-hour chart, DOGE is rising after reaching the current support level of $0.30. The altcoin is approaching the resistance level of $0.42. If the recent high is rejected, the market will continue to trade in a range. Currently, altcoin is facing a first obstacle at a high of $0.42. This will initiate the move within the range.

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.