The DOGE/USD pair is likely to reach highs of $0.11 and $0.13 given the current uptrend.
Beyond that, the overbought condition will hinder the continuation of the uptrend. More details in this cryptocurrency analysis by Coinidol.com.
The price of Dogecoin (DOGE) has been rising despite two retracements below and above the 21-day SMA. The uptrend was broken on December 6 after reaching a high of $0.1063. DOGE has pulled back above the 21-day simple moving average and resumed its uptrend.
Yesterday, the altcoin reached a high of $0.1028 as it approaches the $0.1063 barrier. If the current resistance level is broken, the uptrend will resume.
The price bars are cautiously above the 21-day SMA as DOGE rises.
The price bar reached the resistance level on December 6, but slipped above the 21-day SMA support. The uptrend will continue as long as the 21-day SMA support holds.
Key resistance levels – $0.12 and $0.14
Key support levels – $0.06 and $0.04
DOGE's rise continues but has stalled below resistance at $0.1050. The current resistance level is expected to be broken by the upswing. Buyers have been back above the 21-day SMA for the past three days while targeting the barrier at $0.1050 again. According to the price indications, DOGE will continue its uptrend.
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.