DOGE Could Not Hold Above The Support

The latest price analysis by Coinidol.com report, Dogecoin (DOGE) price falls below the support of $0.30.

Dogecoin price long term forecast: fluctuating

On January 27, the altcoin fell to a low of $0.30 and the bulls bought the dips. The upward correction was halted at the high of $0.34. This means that DOGE will continue to fall. 

A break below the support level of $0.30 activated the drop to a low of $0.26. 

Now, only the break above the moving average lines will result in the altcoin resuming its uptrend.

Dogecoin indicator display

The price bars are below the moving average lines but consolidating above the $0.30 support. The presence of doji candlesticks has caused the DOGE price to move moderately before falling. 

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 four-hour chart, the DOGE price is consolidating above the $0.30 support. 

However, the price was unable to gain momentum and fell to the $0.267 level.

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 Coin Idol. Readers should do their research before investing in funds.