Dogecoin Drops To $0.14 As Traders Hesitate

Dogecoin (DOGE) continues to fluctuate sideways, above the $0.14 support but below the $0.20 resistance.

Dogecoin price long-term prediction: bearish

The crypto price is stabilizing above the $0.15 level after falling below the 21-day SMA support. Buyers were unable to initiate a recovery to the highs of $0.24 and $0.29 on the daily chart by breaking above the 50-day SMA. DOGE has moved lower from the moving average lines. The altcoin tends to fall further until it reaches $0.14.

However, DOGE will drop to a low of $0.10 if the bears break the $0.14 support. The price indicator predicts a further decline to the low of $0.048 or the Fibonacci extension of 2.0.

DOGE indicator reading

The horizontal moving average lines at the bottom of the daily chart are located above the price bars. However, the use of doji candlesticks has limited price fluctuations. The moving average lines on the weekly chart continue to slope north, indicating the previous trend.

Technical indicators

Resistance Levels $0.45 and $0.50

Support Levels – $0.30 and $0.25

What's next for Dogecoin?

The price indicator predicts that DOGE will fall above the $0.14 support. The decline has now stopped above the $0.16 support. The direction of the market is unclear to traders, which is why cryptocurrency prices are slowly fluctuating.

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.