Dogecoin Price In An Amazing Uptrend

The cryptocurrency is recovering from its previous downturn. Dogecoin price analysis by Coinidol.com.

Dogecoin price long-term forecast: bullish

The price of Dogecoin (DOGE) has skyrocketed after recovering above the 21-day SMA or the $0.084 support. The price of the cryptocurrency has broken through the $0.090 and $0.10 resistance. On March 6, momentum had reached a high of $0.167.

On a positive note, DOGE will fully recover once buyers push the altcoin to a high of $0.55. The uptrend has stalled below the high of $0.17. The current uptrend will continue once the obstacle at $0.17 is overcome.

Dogecoin indicator reading

On February 26, the price bars consolidated and rose above the moving averages. The horizontal moving average lines are trending upwards, indicating an uptrend. The cryptocurrency is moving into the overbought region of the market. Sellers will emerge in the overbought region and push prices lower.

Technical indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

What is the next direction for Dogecoin?

The cryptocurrency is in an uptrend on the 4-hour chart. The altcoin is showing a pattern of higher highs and higher lows. Currently, the altcoin has reached a high of $0.1723 before being pushed back. The altcoin will rise when it reaches a higher low and breaks above the previous high. The DOGE uptrend will end when the price pattern is broken.

Disclaimer. This analysis and forecast are the personal opinions of the author and 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.