Dogecoin Price Continues Its Range-Bound Move as Bulls and Bears Contemplate Next Move

Apr 03, 2021 at 08:15 // News
Coin Idol
DOGE will move uptrend when the range-bound levels are breached

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.

Dogecoin (DOGE) Price Long-term Prediction: Ranging

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. 

Dogecoin (DOGE) Indicator Reading 

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.


Technical indicators:  

Major Resistance Levels – $0.090 and $0.10

Major Support Levels – $0.040 and $0.030

What is the next direction for Dogecoin (DOGE)?

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.

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