Dogecoin Bounces Back To Its Previous High Of $0.10

Apr 16, 2023 at 10:00 // Price
Coin Idol
Dogecoin has continued its upward trend

The price of Dogecoin (DOGE) has resumed its uptrend as it holds above the moving average lines.

Dogecoin price long-term forecast: bullish

The altcoin is pushed by buyers to test and overcome the resistance at $0.10. Considering that DOGE reached a high of $0.08 today. If the current barrier is broken, DOGE is expected to rise to its previous high of $0.105. On the other hand, the price of DOGE will fluctuate between $0.08 and $0.10, where the recent high is still unbroken. Meanwhile, Dogecoin has continued its upward trend.

Dogecoin indicator display

On the Relative Strength Index for period 14, Dogecoin is at 60. Being in the uptrend zone, the altcoin is growing. The price bars that are above the moving average lines show that prices will continue to rise. Although DOGE is in a positive trend, the market is on the verge of becoming overbought. It is above the daily stochastic value of 70.

DOGEUSD(Dily Chart) - April 15.23.jpg

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?

Although DOGE /USD has an uptrend, it faces resistance at $0.10. If the current price level is exceeded, the market will rise to the following resistance at $0.11. The altcoin has been moving in the positive trend zone since April 3 in anticipation of an uptrend.

DOGEUSD( 4 Hour Chart) - April 15.23.jpg

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

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