Dogecoin Price Is Unstable As It Faces Rejection At $0.068

Sep 05, 2023 at 10:30 // Price
Coin Idol
Dogecoin is back in the fluctuation zone

The latest price analysis by report, Dogecoin (DOGE) price returned to its range after being rejected at the high of $0.0687.

Dogecoin price long-term forecast: fluctuation range

DOGE price recovered on August 29, but failed to break the moving average lines. The price fell because the uptrend stopped at the high of $0.068.

DOGE the uptrend is shaky as the bears are aggressive at higher price levels. Buyers, on the other hand, are stubbornly defending existing support. If DOGE retests the $0.061 support, a reversal will occur. The price of the altcoin is currently oscillating between $0.062 and $0.065. At the time of writing, the altcoin is trading at $0.063.

Dogecoin indicator display

On the Relative Strength Index for the 14 period, the price of DOGE is consolidating around the 39 level. The price bars are rejected at the moving average lines and could fall further. Bullish momentum has stalled above the daily stochastic threshold of 25.

DOGEUSD - (Daily Chart) – Sept. 4.23.jpg

Technical Indicators

Key resistance levels – $0.12 and $0.14

Key support levels – $0.06 and $0.04

What's next for Dogecoin?

Dogecoin is back in the fluctuation zone. The price of the altcoin fell from a high of $0.068 to a low of $0.063. The price of the altcoin is hovering between $0.062 and $0.065. The altcoin is trading marginally due to the return of doji candlesticks.

DOGEUSD_ (4 Hour Chart) – Sept.4.23.jpg

Last week reported that the price of the altcoin has been fluctuating between $0.061 and $0.064 since August 18. At the high of $0.065, the upward trend of the price was stopped. 

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 Readers should do their research before investing in funds.

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