Coinidol.com: Dogecoin Continues Its Slump Below $0.13

Dogecoin's price has broken out of its range, moving above the $0.13 support but remaining below the 21-day SMA barrier.

DOGE price long-term prediction: bearish

The bears breached the current support, extending the decline to a low of $0.12. The $0.12 support level is holding as DOGE corrects upwards. The price trend has stalled at $0.13, which is the 21-day SMA barrier. DOGE will resume its bullish ascent if buyers keep the price above the moving average lines; otherwise, selling pressure will return.

Currently, DOGE is declining after being rejected at the recent high. If the current support is breached, DOGE will fall and return to its previous low of $0.10. DOGE was trading at $0.13 at the time of writing.

Technical indicators

• Resistance Levels $0.45 and $0.50

• Support Levels – $0.30 and $0.25

DOGE price indicator reading

The 21-day SMA and 50-day SMA are both trending downward, with the 21-day SMA acting as a resistance line to the price bars. Doji candlesticks dominate the price action, slowing movement. On the 4-hour chart, the price bars are positioned between the downward-sloping moving average lines. This suggests that DOGE will likely remain within the current price range.

What is the next move for DOGE?

DOGE is declining but remains between the moving average lines. On the 4-hour chart, the altcoin trades above the $0.12 support but below the $0.13 high. The price is decreasing but remains between the moving average lines. Selling pressure will be confirmed if the 50-day SMA support and the current support are breached.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.