Dogecoin (DOGE) has continued its range-bound movement. Yesterday, April 2, 2021 DOGE rebounded above the $0.055 support and retested the upper price range. Now, the altcoin is fluctuating between levels 0.040 and $0.070.
On April 2 the bulls failed to break the upper price range for Dogecoin. DOGE price tested level $0.070 and fell back to the range-bound zone. The altcoin will trend when the range-bound levels are breached. The market is in a choppy price action. DOGE is range-bound because buyers and sellers are in a period of indecision.
The 21-day and 50-day SMAs are sloping horizontally indicating a sideways trend. DOGE is at level 58 of the Relative Strength Index period 14. It indicates that it is in the uptrend zone and above the centerline 50.
Major Resistance Levels – $0.090 and $0.10
Major Support Levels – $0.040 and $0.030
Dogecoin is in a range-bound move. Presently, altcoin is trading in a range. On April 2 downtrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. This implies that price will fall to level 1.272 Fibonacci extension or the low of $0.0574. DOGE price has reversed in the range-bound zone.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.